India’s power minister R. K. Singh on Tuesday said that the country would replace old coal-fired power plants with renewable capacities to cut its carbon footprint. India is the third-bigest greenhouse gas emitter in the world and the second-biggest coal consumer. More than 50% of India’s nearly 373 GW power generating capacity is from coal. However, Singh said that all plants that are already or soon to be retired would be replaced by renewable energy.
India aims at increasing non-fossil fuel share to 40% of its energy requirement by 2030, including by generating 175 GW of electricity from renewable sources in 2022. India’s current annual capacity of solar modules and cells stands at around 12.5 GW. According to Singh, it will increase to 25 GW in the next two years.
India mostly uses China-made solar modules and cells. However, it imposes Safeguard Duty and plans to apply an import tax on solar cells and modules to protect local industry. The country also intends to involve private companies in constructing manufacturing hubs for renewable energy equipment.
