Taking into account planning studies carried out by India's Central Electricity Authority (CEA), the Indian Ministry of Power proposes to set up an additional coal-fired capacity of at least 80 GW by 2031-2032. The estimated capital cost for setting up of these new coal-fired capacity as considered in National Electricity Plan is INR83.4m/MW (nearly US$1m/MW) (at 2021-22 price level), corresponding to a minimum investment of INR6,672bn (US$79.7bn) by 2031-2032 for the additional 80 GW.
In its updated NDC (2022), India reiterated a target to reduce its CO2 emission intensity of GDP by 45% in 2030, compared to 2005 levels, and to reach 50% of installed capacity from non-fossil energy sources. In 2021, the country pledged to reach net-zero emissions in 2070. At the end of 2023, coal still accounted for 53% of the country’s electricity capacity of 500 GW.
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