Indian power sector
India is one of the world's largest and fastest growing economy. The demand for power is underpinned by the following fundamentals:
- Growing population along with increased electrification and per capita usage.
- GDP growth of 7% +
- India has been on a path to achieve 100% household electrification as envisaged under the Saubhagya scheme.
- A per capita electricity consumption of 1,208 kWh which is one of the lowest amongst leading emerging economies in the world. (Brazil – 2,570 kWh, China – 4,906 kWh, Russia – 6,917 kWh & USA – 13,098 kWh)
- Focus on infrastructure development by Indian government.
Availability and reliability of power supply is key to achieving economic growth. As per Central Electricity Agency (CEA) report, by 2030 around 450GW power generation capacity will be added. The Government in India has made several reforms and policy to achieve this target..
- Achieve 175 GW of renewable power capacity in the near future of 2022; of which 100 GW from solar.
- Increase coal production to 1 billion tonnes by FY 2024
- Financial restructuring of Discoms, the distribution arms of the State Electricity Boards
- Improve transmission infrastructure including dedicated lines for renewables (Green Corridor)