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India's power demand to surge 7% in 2023-2024
The Business Guardian
|November 18, 2023
India’s power sector anticipates a 7% surge in demand by the fiscal year ending March 2024, driven by robust industrial activity, reveals Fitch Ratings. The agency predicts this increased demand will maintain high load factors for thermal power plants, even as coal imports are expected to remain modest due to expanded local supply.
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Recent reports highlight a decline in coal inventory at power plants since a record-high monthly power demand in August 2023. In response, the government aims to boost local coal production and permit power plants to integrate more imported coal into their fuel mix, ensuring sufficient coal stock.
The Union Ministry of Coal has outlined ambitious plans to ramp up coal production significantly, aiming for 1,404 million tonnes by 2027 and 1,577 million tonnes by 2030 from the current annual production level of about 1,000 million tonnes.
Dit verhaal komt uit de November 18, 2023-editie van The Business Guardian.
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