Solar energy prices hit record low India cancels plans for huge coal power stations

For the first time solarxx cost less than coal in India and the implications this has for transforming global energy markets is huge.

Measures taken by the Indian Government to improve energy efficiency coupled with ambitious renewable energy targets and the rate at which the cost of solarxx is falling has had a a marked effect on existing as well as proposed coal fired power plants, rendering an increasing number them financially undesirable.

The number of the global financial institutions who are bidding into India’s solarxx power infrastructure tenders is a strong approval of India’s leadership in this energy transformation and will have significant ripple effects into other transforming markets, as is already seen in the UAE, South Africa, Australia, Chile and Mexico.