India needs to invest US$834bn to cut CO₂ emissions by 2030

According to the Planning Commission of India, India will have to invest US$834bn by 2030 to cut its CO₂ intensity (corresponding to CO₂ emissions compared to GDP) by 42% over 2007 levels. The report estimates that the CO₂ intensity should decline by 22% between 20007 and 2030 (under a Baseline, inclusive growth scenario); the fall could reach 42% under the Low Carbon, Inclusive Growth (LCIG) scenario. Massive changes in the energy mix by 2030 are expected to result in a lower demand for coal (from 1,568 Mt under the BIG scenario to 1,278 Mt in the LCIG scenario), oil (respectively 406 Mt and 330 Mt), while gas demand would increase marginally (from 187 bcm to 208 bcm). The LCIG scenario estimates that wind and solar capacities should increase to 118 GW and 110 GW, respectively, by 2030. However, coal will remain the dominant energy source, with 65% of the power generation (even in the LCIG scenario), with supercritical power plants accounting for half of the coal-fired capacity by 2030 (from the current 6-7%). To curb CO₂ emissions, the aim should be that at least one-third of power generation by 2030 is fossil free.