The Role of Coal in a Sustainable Energy Mix for India

Mritiunjoy Mohanty is Professor with the Economics Group of the Indian Institute of Management Calcutta (IIM Calcutta), India. He is also currently a member of IIM Calcutta’s Centre for Development and Environment Policy. Runa Sarkar is Professor with the Economics Group of the Indian Institute of Management Calcutta (IIM Calcutta), India. She is also currently the Coordinator of IIM Calcutta’s Centre for Development and Environment Policy.

List of Appendices and Boxes viii

List of Figures x

List of Tables xii

Contributors xiv

Preface and Acknowledgements xxi

Abbreviations xxiv

Introduction 1

MRITIUNJOY MOHANTY AND RUNA SARKAR

PART 1 A Macroeconomic Analysis of Alternate Pathways 9

A Macroeconomic Analysis of Alternate Pathways: an Introduction

MRITIUNJOY MOHANTY AND RUNA SARKAR

1 India’s Coal and Coal-Fired Electricity Needs by 2030: Clearing Vision beyond Black Coal and Hazy Skies 13

SUNIL DAHIYA, ADITYA LOLLA, PRIYANSHU GUPTA, AND NANDIKESH SIVALINGAM

2 India’s Energy Trilemma and Coal-based Power Generation 28

SAMBIT BASU AND SOUMYA PRAKASH NAYAK

3 Energy Transition and Centre–State Priorities: Alignments and Misalignments of Policies and Decisions 43

TIRTHANKAR MANDAL

4 Macroeconomic Impacts of Coal Transition 54

SAON RAY, PIYALI MAJUMDER, AND VASUNDHARA THAKUR

5 The Social Aspects of India’s Energy Transition: Coal, Critical Minerals and Socio-Economic Dependencies 75

VIGYA SHARMA AND JULIA LOGINOVA

6 Deep Electrification in India: A Review of Strategies, Policies, and Sectoral Developments 104

SARTHAK SHUKLA, SHUBHAM THAKARE, AND RAGHAV PACHOURI

PART 2 Governance and Policy Perspectives 117

Governance and Policy Perspectives: an Introduction

MRITIUNJOY MOHANTY AND RUNA SARKAR

7 Governance Principles for a Just Energy Transition 119

SIMRAN GROVER, NAINI SWAMI, AND V. SURESH

8 Policy Framework for Energy Transition in India 135

SARTHAK SHUKLA AND RAGHAV PACHOURI

9 Industrial Policy 2.0: Policy Space and Decarbonisation 156

MRITIUNJOY MOHANTY, SAON RAY, AND NAINI SWANI

10 International Experiences on Just Energy Transition Planning and Lessons for India 168

MADHURA JOSHI AND SWATI DSOUZA

11 Grounded Perspectives on Energy Transition – The View of Panchayat Members on Energy Transition and Impact of Climate Change 186

JAHNAVI G. PAI, MUNNA JHA, AND VINUTA GOPAL

PART 3 Industry: Opportunities and Challenges 199

Industry: Opportunities and Challenges – an Introduction

MRITIUNJOY MOHANTY AND RUNA SARKAR

12 Retrofit Decarbonisation and Reutilisation of Thermal Power Plants 203

SUCHARITA BHATTACHARJEE AND TRINAYANI SEN

13 Future-Proofing India’s Coal PSUs: An Analysis of CIL and NTPC 216

SAARTHAK KHURANA, ARNAB SARKAR, AND BALASUBRAMANIAN VISWANATHAN

14 Evaluation of Energy and Environmental Efficiency of the Indian Thermal Power Plants: A State-Level Analysis 240

SABUJ KUMAR MANDAL

15 Energy Storage and Its Potential Role in Electricity Transition 251

SHUBHAM THAKARE AND RISHIKESH SREEHARI

16 International Experiences: The Cases of Iberdrola, Enel, and NextEra Energy 264

SHUBH MAJUMDARR, ABHINAV JINDAL, SHANTANU SRIVASTAVA AND VIBHUTI GARG

PART 4 Investors and Shareholders 279

Investors and Shareholders: an Introduction

MRITIUNJOY MOHANTY AND RUNA SARKAR

17 Financing India’s 2030 NDC Targets and Beyond 283

VAIBHAV PRATAP SINGH AND NEHA KUMAR

18 Transition Finance 299

AANANDITA SIKKA, NEHA KHANNA AND DHRUBA PURKAYASTHA

19 Role of Domestic Institutional Capital in Funding India’s Energy Transition 311

SHANTANU SRIVASTAVA

20 Operationalising Just Transition in India: Financing Challenge and Options 329

NEHA KUMAR AND SURANJALI TANDON

21 International Climate Financing and Just Energy Transition: Exploring the

Synergies 343

PRADIP SWARNAKAR AND RAJSHRI SHUKLA

Index 353