Trillion Dollars Needed For Green Repowering Of Thermal Plants: iFOREST Report

Trillion Dollars Needed For Green Repowering Of Thermal Plants: iFOREST Report. Photo by-Pexels

A latest report from International Forum for Environment, Sustainability and Technology (iFOREST) estimates that India would require more than a trillion dollars in the next 30 years to systematically phase down operations of the existing coal mines and Thermal Power Plants (TPPs) by 2050. The report talked about Just Transition, its financial requirements, and a smooth shift from coal to renewable energy.

The iFOREST report also stated that the transition will focus on ensuring a minimal disruption to existing infrastructures and jobs while maintaining energy access and security and supporting green jobs and growth in coal-dependent regions.

The report said that the Green energy investments, including green repowering of TPPs, are the largest share of just transition costs, accounting for nearly 52% of the total. “The total cost of a just energy transition can be divided into two components – the ‘green energy’ costs and the ‘non-energy costs. The green energy investments are about 52% of the total just transition cost. These include the costs of building green energy plants and repowering existing TPPs to ensure that equivalent energy services are provided compared to the currently operational coal-based TPPs. The costs also include Battery Energy Storage Systems (BESS) and upgradation of the grid,” the report said. 

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The report said that the investments for transition would include the cost of closing coal mines with a 1,315 million tonne per annum (MTPA) cumulative production capacity and phasing out 237.2 Gigawatts (GW) of coal-based power capacity. It will also include the associated cost of rehabilitation and repurposing of 343,504 hectares (ha) of coal mining land, green repowering of 124,789 ha of land available at TPP sites, and transition support for about 5.9 million workers whose income is dependent on or induced by these industries, the report said in its analysis.

The green energy investments include the costs of building green energy plants and repowering existing TPPs to ensure that equivalent energy services are provided compared to the currently operational coal-based TPPs. The costs also include Battery Energy Storage Systems (BESS) and upgradation of the grid.

For the record, India’s Coal Minister Pralhad Joshi had asserted recently that coal will continue to be an important resource for the next 3 to 4 decades despite rise in use of renewable energy. Most analysts expect coal/thermal energy to play a key role in the country’s energy mix considering the net zero target of 2070 that has been set by India.

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