The Power Rangers

India's power demand is set to grow at over 7% CAGR, higher than earlier estimates of 5%, with major companies ramping up investment to keep pace with future requirements

- RICHA SHARMA

A COUNTRY'S GROWTH story is often determined by its energy prowess and in India, power demand is burgeoning. To catch up, Indian power companies—both conventional and renewable—are ramping up investments in the sector.

Investments in the power sector are skewed towards renewable energy and battery storage, and any future investments by power companies in thermal will be to replace the existing capacity, say experts.

However, with the government announcing around 80 GW of new thermal capacity addition, coal-based power plants will continue to remain the largest player in India’s energy mix for the next few decades to meet the surging power demand. Various assessments peg a financing opportunity of around $40 trillion in the next 10 years in the areas of power generation, battery storage, and upgrading transmission infrastructure.

POWERING UP

• 500 GW of non-installed power capacity by 2030

• 80 GW of new thermal power capacity by 2032

• 90,000 circuit km of transmission lines over the next decade

• 600 GWh of battery storage potential by 2030

• $40 trillion investment opportunity in power sector in a decade