The Indian power sector is undergoing noteworthy changes that have redefined the industry’s outlook for the next decade. Sustained economic growth and the Government of India’s focus on attaining ‘Power for all’ continues to drive electricity demand in India.
Providing all homes with electricity connections translate into 28,000 MW of additional peak demand, that coupled with the next goal to provide 24x7 reliable power supply, suggests that the annual power demand is projected to further grow at 7 per cent.
To be able to meet this surging demand and provide cleaner, cheaper and more reliable access to power, hundreds of billion dollars of investment in infrastructure and technology are required. Starting with additional generation capacity, flexible & more efficient transmission, distribution network and energy efficiency measures for both large and residential customers.
Power generation capacity is expected to more than double in both renewables and conventional generation over the next 20 years. While India has one of the world’s most ambitious renewable energy targets with capacities of 175GW by FY22 and 275GW by FY27 from current 78 GW to reach by 2040.
POWERGEN India and it’s co-located events offer a unique platform to explore opportunities in this exciting “Indian Energy Transition”.