Page 29 - CV April-May 2019 issue

India needs over $200 bn of investment in

Renewable infrastructure .

ONN: India is on track to catalyse However, India has set an ambitious but minimise the growth of coal-fired electric
$200-300 billion of new investment achievable national target of 275 GW of generation.
Bin its renewable energy renewable capacity installed by 2027. Electricity demand in India is expected to
infrastructure in the next decade with global Changes to tap renewable resources are on double over the coming decade, and how
capital inflows playing an increasingly the way. Indeed, the tipping point may have this electricity will be generated is important
crucial role, a top financial analyst with a been 2016-17, when the net thermal for both India and the world.
leading US-based institute foresees. capacity plummeted and renewable installs
more than doubled, Buckley said in his "We present an electricity sector model out
India's decarbonisation policy is in line with
report "Indian electricity sector to 2027 showing how India can meet almost
global trends which, since 2011, have been
transformation" made public on Tuesday. all of its growing electricity needs via
seeing investments in renewable energy
increasingly cost-competitive renewable
infrastructure running at two-three times of These developments continued into 2017
energy resources and numerous energy
that for new fossil fuel capacities, Tim with costs of both falling by an
efficiency measures, while at the same time
Buckley, Director of Energy Finance Studies unprecedented 50 per cent and recent
keeping its coal use in check, at perhaps no
Australasia with the Institute for Energy tenders now pricing renewables at 20 per
more than five-10 per cent above current
Economics and Financial Analysis (IEEFA), cent below the average price on existing
levels.
said. Indian thermal power generation.
Buckley told IANS in an email response.
At present, India relies on thermal power The report examines the rapid
India is the world's second-largest producer,
generation for 80 per cent of its electricity, transformation in India's electricity market,
consumer and importer of thermal coal. It's
while hydro supplies a significant 10 per showing how renewable energy and energy
also the third largest electricity user in the
cent and renewables just seven per cent. efficiency measures can help the country
world after China and the US.
27 / CONSTRUCTION VISION / May June 2019