Indian giant Reliance Power’s shift from coal to clean energy
In further signs of the staggering pace of transformation in global energy markets, Indian power behemoth Reliance Power, one of the three largest private power groups in that country, is urgently seeking to change the fundamentals of its business strategy.
A detailed analysis of public statements, annual reports and press reports relating to the company by the Institute for Energy Economics and Financial Analysis (IEEFA) all point to a major strategic refocus away from thermal to renewable electricity generation by this Indian power conglomerate.
In the last decade Reliance Power has received approval to build five of the world’s largest thermal power projects. It is telling that only one of these proposals has been commissioned, and even this one has been problematic. The other four are not even under construction.