India abandons coal projects in wake of record solar prices
Electricity from solar farms continues to outbid coal power in India, and this means that several coal power projects in the country are no longer economically viable. One analyst thinks the trend will have profound consequences for international energy markets.
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.
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