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A not so dead stranded asset: India chooses more coal, cancels 57 nuclear plants.

Posted By Jo Nova On April 17, 2018 @ 8:57 pm In Global Warming | Comments Disabled

Australia is so irrelevant. India is cancelling fifty times as many nuclear power plants as Australians ever dreamed of building.

Let’s build another million wind farms.

If we abandoned the country and talked our Kiwi and Canadian friends into moving to Mars with us, we could not make up the carbon credits this decision just vaporized.

Energy Post - thanks to GWPF.

The Financial Express, one of India’s major newspapers, reports that the Narendra Modi government, which had set an ambitious 63,000 MW nuclear power capacity addition target by the year 2031-32, has cut it to 22,480 MW, or by roughly two-thirds.

The drastic reduction in planned construction of new reactors will diminish India’s plans to rely on nuclear energy from 25% of electrical generation to about 8-10%. The balance of new power requirements will likely be met by use of India’s enormous coal deposits.

Please tell us again how coal is a stranded asset?

The country accounts for eight percent of world’s total coal consumption. About two-thirds of India’s electricity generation comes from coal.

 India holds the fifth biggest coal reserves in the world. The country’s proved coal reserves are estimated at 61 billion tonnes. India accounts for about seven percent of the world’s total proved coal reserves.

India’s population is 1.35 billion. It is forecast to overtake China as the world’s most populous nation around 2024. At last count 20% of India did not have electricity, which is about 270 million people still to be connected, presumably thanks to coal.

This time last year India was already meeting it’s climate goals “early” by doubling coal, and keeping it as main energy source for next 30 years. How pointless was that Paris agreement?

 

 

 

 

 

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