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India Turns to Thermal Power with Low Renewables Growth

ENERGY

India plans to continue using thermal power for baseload and gas for peak due to a lower than anticipated growth in renewables generation, lack of modern transmission infrastructure and is unable to afford a renewables plus storage solution according to Energy Intelligence.

  • Energy security in India in the short term relies heavily on fossil fuels, including coal, oil and natural gas as renewables, battery storage, green hydrogen and electric vehicles (EVs) are in the back seat.
  • A lower than anticipated growth in renewables of solar and wind have failed to prevent blackouts in the last few years forcing a rise in coal and oil generation.
  • The key supply of discounted Russian crude imports to Indian refiners continues to rise. India bought around 39% of oil imports, 1.8mbpd, from Russia in February compared to combined imports from Iraq, Saudi Arabia and the UAE of just under 2mbpd.
Energy BulletsCommodities
Energy BulletsCommodities

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