Coal remains the most practical option in the near-term to stimulate affordable electricity generation growth at the pace and scale needed by the country, said Fitch Solutions.

Under the revised regulation, local oil and petrol traders are now allowed to transfer their stakes to foreign investors but foreign ownership should not exceed 35%.

Across the first half of 2020, the government approved an additional 91 wind energy projects, onshore and offshore, with a total capacity of over 7GW.