10 December 2020
Coal-dependent companies in India are falling behind as the world shifts to greener energy, posing broader risks to the fifth largest economy.
The report highlights that the cost of solar power has fallen well below the cost of new fossil-fuel power. The shift towards solar poses significant challenges for firms whose revenues depend on coal.
The authors of the report use scenarios to quantify financial risks facing three large companies: Coal India, Indian Railways, and NTPC (formerly National Thermal Power Corporation). The report indicates at least US$9 billion in free cash flow is at risk for these companies over the next decade. The analysis does not consider the introduction of a domestic carbon tax.
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