New Delhi: In the next 30 years, India will require more than a trillion dollars, or 84 lakh crore at current rates, to transition away from coal mining and thermal power plants, estimates a first-of-its-kind study by environmental think-tank Forest. These costs will largely be required to close mines which produce 1,315 million tonnes per annum of coal cumulatively and to phase out coal-based thermal power plants which have a capacity of 237.2 gigawatts, said the new study.
The energy transition estimate did not include the investment cost of setting up new green energy plants and infrastructure, which alone is estimated to be in trillions of dollars. It also excluded costs of transitioning for industries such as steel and cement that use coal directly.