Overview of the Indian Power Industry



The power consumption in India is continually rising, and what is the government or power generation companies in India doing about it? Here's an analysis of power demands and steps towards them in India.

According to an analyst at CARE Ratings, by next year, the electricity generation in India is expected to rise by 5 to 6 percent. In FY19, the country had generated 1307 billion units of electricity, which 5.3% more than last year.

Further, the CARE ratings also projected that coal production would be steadily growing by 6 to 7 percent during the ongoing fiscal. Domestic coal production increased by 7.3 percent to 739.4 mt in FY19, much quicker than the 2.6 percent growth rate observed in FY18. The CARE rating prediction is much lower than that of the CEA (Central Electricity Authority), which expects production to touch 1,330 bn units in the traditional energy sources (excluding renewals) from FY20. Though the estimates sound affirmative for individual power plants operating low plant load factors, real production from personal power plants in FY19 has risen only 2.2 percent yearly.

A brief lookout on how Power Generation Companies in India are leveraging countries infrastructure:

There are increasing growth avenues in the renewable power segment, which are driven by the target to achieve a renewable installed capacity of 175 GW by FY22.

India will have an ever-growing demand in power consumption to 1894.7 TWh by 2022, with its steadily growing population and increasing electrification requirements.

Getting electrification policy support in the country is increasing with the help of schemes such as Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY) and Integrated Power Development Scheme (IPDS).

With total FDI inflows in the sector, reaching US$ 14.22 billion from April 2000 to December 2018, the power sector in India is witnessing higher investments.

The Road Ahead

The Government of India has already introduced its roadmap to achieve 175 GW ability in renewable energy by 2022, which comprises 100 GW of solar energy and 60 GW of wind power.

The Government of India is preparing a policy as 'rent a roof' for encouraging its target of generating 40 gigawatts (GW) of power through solar rooftop jobs by 2022.

As of May 2019, coal-based power generation capacity in India, which now stands at 191.09 GW. It's further expected to reach 330-441 GW by 2040.

India may become the world's first nation to utilize LEDs for many lighting needs by 2019, thus saving Rs 40,000 crore (US$ 6.23 billion) on an annual basis.

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