After several years of drastically declining prices on solar power, plans to construct a series of new coal power plants in India have been canceled. The country, which is the world's second-largest coal consumer after China, is now abandoning coal projects with combined capacity of 13.7 GW, writes energy analyst at IEEFA, Tim Buckley.
During a May auction, the developers Phelan Energy Group and Avaada Power Private Limited bid below the former record-minimum on a solar panel farm in the country by 12 percent. The 250 MW Bhadla project will thus settle for a guaranteed price of DKK 0.29/kWh (EUR 0.039). Just two days later, this record was beat in the auction for two projects of a total 500 MW at prices of DKK 0.23 and DKK 0.24 per kWh.