India's coal-fired power share drops below 50% in Q1

Renewables accounted for 71.5% of the new capacity additions.

The share of coal-fired power in India’s added generation capacity declined to below 50% during the first quarter of 2024, the first time since the 1960s, according to a report by the Institute for Energy Economics and Financial Analysis (IEEFA).

During the period, IEEFA reported that renewable energy comprised 71.5% of the 13,669 megawatts of the added capacity (MW).

IEEFA said that this development already met the 2030 target of the government to reach 50% of the total generation capacity from non-fossil fuel-based sources.

The tender issued for large-scale renewable projects reached a record-high 69 gigawatts.