(Bloomberg) — India plans to expand its coal power fleet by about a quarter through the end of the decade as it continues to lean on the fuel to meet growing demand until energy storage costs fall.
The world’s third-biggest emitter of greenhouse gases will add nearly 56 gigawatts of coal power capacity unless there’s a substantial drop in the cost of storing electricity, Power Minister Raj Kumar Singh said in an interview this week in New Delhi. India is also planning major investments in renewable energy, but it has to prioritize providing reliable power to spur economic growth, he said.
The plan underscores how energy security concerns are vying with climate targets as countries map out energy transition paths. Coal is enjoying a revival in Europe after Russian gas supplies fell in the fall-out from the invasion of Ukraine.
India, which saw power demand surge this summer as temperatures rose to a record, is also delaying shutting older coal plants and increasing mining output.
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