Indian firms look to bet big on coal-fired power after long absence
coal-fired power capacity over a decade, four sources familiar with the matter said, ending a six-year drought in significant private involvement in the sector.
Adani Power, JSW Group and Essar Power are among the companies that have told India's power ministry they would be keen to expand old plants or develop stalled projects facing financial stress, according to the sources and a government presentation seen by Reuters.
The potential investments, which have not been previously reported, could cumulatively cost billions of dollars and demonstrate renewed appetite in an industry seen by many as financially unattractive. But they also threaten to undermine progress made by the world's No.3 greenhouse gas emitter in weaning its economy off carbon.
Prime Minister Narendra Modi's government, which has cited energy security concerns and low per-capita emissions to defend India's coal dependence, has been trying to attract private investment to boost its coal-fired capacity by 80 GW by 2032.
Coal-fired power plants currently account for half, or about 215 GW of India's total installed capacity of 430 GW, with renewables accounting for 135 GW and hydro making up 47 GW.
A spokesperson for the power ministry said the private sector had agreed to invest in the coal-fired power sector «in line with the energy requirements of the nation,» adding that India was ahead of international commitments to cut emissions.
«The private sector is now expressing interest because of financial viability and assurance that payments will
