In a surprising turn, private Indian firms are expressing interest in building a substantial 10 gigawatts (GW) of coal-fired power capacity over the next decade, marking the end of a six-year hiatus in significant private involvement in the sector. This development aligns with Prime Minister Narendra Modi’s push to attract private investment, aiming to boost the country’s coal-fired capacity by 80 GW by 2032, citing energy security concerns and per-capita emissions.
The power ministry’s spokesperson emphasized that private sector participation in the coal-fired power sector is aligned with the nation’s energy requirements, asserting that India remains ahead of international commitments to cut emissions.
Simultaneously, global asset manager Blackstone Inc. is making bold moves in India, planning to more than double its holdings of Indian warehouses, eyeing at least 100 million square feet in the next two to three years. This expansion is part of Blackstone’s strategic investment approach in the world’s fastest-growing major economy. Additionally, the firm is venturing into the creation of a new hospitality platform in India, and actively seeking opportunities in data centers following its recent $10 billion acquisition of QTS Realty Trust Inc.
These parallel developments underscore a dynamic shift in India’s energy and real estate landscape, with private firms showing renewed interest in coal while global giants like Blackstone continue to bet big on the country’s growth across multiple sectors.
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🇮🇳Indian firms look to bet big on coal-fired power after long absence
Private Indian firms have expressed interest in building at least 10 gigawatts (GW) of coal-fired power capacity over a decade, four sources familiar with the matter said, ending a six-year drought in…
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