Affordable energy security shall remain key for India, now that there is a push towards enhancing merchandise output/ exports
India plans to increase the proportion of renewable capacity in the overall energy capacity mix from 42% now to 70% over the next 10 years. Though clean, Gas does not work out to be an affordable energy source and hence the expectation from gas fired plants is projected to remain at current levels over coming years. Coal is the most affordable source and India plans to further add thermal generation, increasing it from 205GW now to 260GW in 2032. However, is is renewables that receives the maximum attention with a planned capacity addition taking the existing capacity of 173GW to 596GW in 2032. India also plans to add energy storage over the next 10 years.
Despite the significant renewable addition it is coal which will continue to have a dominant role.
In FY’23 the share of coal in India’s energy output has been a solid 73% compared to 12% for RE.