Prayas (Energy Group) anchored a roundtable discussion on “Strategies for thermal power in India and the Global South” at the inaugural Mumbai Climate Week (MCW), held from 17–19 February 2026. MCW was organized by Project Mumbai in partnership with the Government of Maharashtra and the Mumbai city administration. The Energy Transition vertical of MCW was spearheaded by ISEG Foundation, Eversource Capital and Shakti Foundation.
 
India and other countries in the Global South are charting their paths towards decarbonisation along nationally appropriate trajectories. In this context, their dependence on coal-based generation is expected to gradually reduce over the coming few decades. Utilisation patterns of the coal fleet are likely to evolve from its traditional role as the base load provider of electricity. There is increasing recognition that their operations would have to become more flexible, and their utilization sparser – particularly during the day time when plentiful solar electricity will be available. In India, about 58 GW of coal-based capacity (over 25% of current coal-based capacity) will be 40 years or older by 2047 and reach end-of-life. 

This changing nature of coal, in the context of the transition, spurred the discussions at the roundtable, which were focused on questions such as: 

• What kind of innovations would be required in contracting mechanisms, regulations, market  structures etc. for the entire coal-based value chain from mining to coal transportation to coal procurement to power generation to power distribution in light of the changing role of coal-based generation?
• How can retrofitting / flexibilization / repurposing etc. of coal-based assets be financed and paid for?
• How can one co-optimise utilisation of existing coal-based capacity with addition of new capacity in the context of gradually reducing utilisation factors to avoid locking-in of resources?
• How can existing asset elements (e.g. land, transmission connectivity etc.) be maximally reused to enhance the economic value of the assets in either extending their useful life or repurposing them?
• If coal-based assets are either repurposed for other uses or decommissioned, how does one ensure good environmental remediation so that the land can be restored effectively and reused productively for other purposes? And how would this cost be paid for?

The brainstorming at the session attempted to develop broad contours of what the path forward may look like. The discussion included perspectives from experts and practitioners across coal-based generation, power sector regulation, coal companies, research groups, think tanks, and representatives from the Global South.