‘Increased focus on renewable energy to impact demand for domestic coal’

With the Centre focusing on increasing renewable energy (RE) capacity to nearly 175 GW by 2022, the demand for domestic coal is likely to witness a slowdown, rating agency ICRA said in a recent study.

“Domestic coal demand growth is likely to witness a structural slowdown on the back of the government’s large renewable energy capacity addition plans to increase to 175 GW by FY2022 from the current capacity of around 58.3 GW,” the agency said.

Over the years, the capital cost of setting up RE capacity has steadily declined, and the narrowing differential between conventional energy and renewable energy tariffs has emerged as an underlying theme.

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