Solar undercuts coal in India, as another bank quits Adani mega-mine

…nails hammered into coffin for Australian coal mining export plans of Indian conglomerate, Adani Group…news on Monday night that Standard Chartered – one of the largest investment banks in UK – latest international financier to withdraw support for largest new coal mine…Galilee Basin…tariffs agreed for solar in the July 2015 Telangana and Madhya Pradesh state solar tenders were around 1 rupee/kWh cheaper than electricity from imported thermal coal and fixed for 25 years…“While many commodity forecasters have assumed Indian imports will continue to grow, as a result of the transformation, IEEFA forecasts a peak in Indian thermal coal imports in 2015, with a rapid ~20 per cent pa decline thereafter, says the report.

TheAge recently reported more jitters; as well as CBA pulling out, Deloitte is suddenly replaced by KPMG; how much longer before  our mad monk PM is charged with heresy by the Vatican?

>more> RenewEconomy

About groundswellbasscoast

This is on behalf of local climate change group. Material is selected by Bernie McComb and does not necessarily represent opinion of whole group.
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