Over the next 25 years, “with the most aggressive assumptions in terms of renewables, we could go up to 18 or 20 percent from renewables,” Ramesh told me. “Hydro takes longer—it involves displacement of people and submergence of land, but we could expect that 17 percent contribution to go up to 25 percent. Nuclear is at 3.5 percent right now and, under the most aggressive assumptions, could go up to 5 or 6 percent. So under the best scenario—the most aggressive programs for nuclear, hydro, solar, and wind—bloody coal will still be at 50 percent.”
In short, Modi is trying to create a world-class renewable-energy industry while reforming a corrupt and bankrupt utility sector, growing the country’s manufacturing sector, keeping deficits low, and sustaining economic growth at around 8 percent a year.