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New Delhi, Jun 22 (PTI) Coal-based power generation is the backbone of power supply in the country and this situation is likely to remain so for the next two-three decades. Public sector power company NTPC Chairman and Managing Director Gurdeep Singh said this on Wednesday.

He also suggested that India needs to focus on low-cost financing to promote clean or non-fossil fuel based power generation.

Instead of phasing out coal-based thermal power plants, Singh said during a discussion at the Bloomberg NEF summit here, India needs to focus on dispatchable renewable energy.

“Why are people so worried about coal? Today we are supplying three-fourth of our electricity from coal based plants. These are the backbone of coal based power plants (power supply or baseload in the country).

He further said, “We need to see how to reduce coal based generation instead of phasing out coal based power plants…”.

Singh said it was too early to talk about phasing out coal-based plants and coal-based power was going to last for two to three decades.

India has set a target of achieving 5,00,000 MW of renewable energy generation capacity by 2030.

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