Power & Energy
Power or electricity is one of the most critical components of infrastructure affecting economic growth and well-being of any nation. The existence and development of adequate infrastructure is essential for sustained growth of the economy.
The Indian power sector is one of the most diversified in the world. Sources for power generation range from conventional ones such as coal, lignite, natural gas, oil, hydro and nuclear power to other non-conventional sources such as wind, solar, and agriculture and domestic waste. The demand for electricity in the country has been growing at a rapid rate and is expected to grow further in the years to come. In order to meet the increasing requirement of electricity, massive addition to the installed generating capacity in the country is required.
The Indian power sector is undergoing a significant change that is redefining the industry outlook. Sustained economic growth continues to drive power demand in India. The Government’s objective to attain ‘Power For All’ has accelerated capacity addition in the country.
It is expected that total domestic energy production will reach 669.6 million tonnes of oil equivalent (MTOE) in next 2 years and 844 MTOE by 2021–22. By 2030 – 35, energy demand in India is projected to be the highest among all countries.
As of now total thermal installed capacity stands at 168.4 GW, while hydro and renewable energy installed capacity is around 40.5 GW and 31.7 GW, respectively. Nuclear energy capacity is around 4.8 GW.
The Solar power in India is rapidly gaining momentum and it is expected that from around 1 GW it will grow manifolds in next few years.
Wind energy market of India is expected to attract about US$ 3.16 billion of investments over the next few years, as companies across sectors plan to add 3,000 MW of capacity powered by wind energy.
The Government has announced a massive renewable power production target of 175,000 MW by 2022, comprising 100,000 MW from solar power, 60,000 MW from wind energy, 10,000 MW from biomass and 5,000 MW from small hydro power projects.
The Indian power sector has an investment potential of Rs 15 trillion (US$ 237.35 billion) in the next 4-5 years, providing immense opportunities in power generation, distribution, transmission and equipment.
It is expected that by 2019 India would be producing two trillion units (kilowatt hours) of energy which will be double of the current production capacity and will be providing 24x7 electricity for residential, industrial, commercial and agriculture use.
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