"The demand for thermal power is going to increase in absolute terms." Even so, evidence of a shift away from coal is gathering by the day. State-run NTPC Ltd., India's largest power producer, along with RattanIndia Power Ltd. are considering installing solar panels over land initially intended for thermal projects. NTPC said in February it's aiming to have 30 percent of its capacity come from non-fossil fuel by 2032 The Indian subsidiary of Hong Kong-listed CLP Holdings Ltd., which owns both coal and renewable projects, is debating whether to participate in another round of conventional projects. "A transition from coal to solar is a generic direction that all utilities are taking. We are an early mover into the renewables space so our journey continues," Mahesh Makhija, business-development director for renewables, said in a phone interview.