Data-driven solutions for cities
Smart city and industrial corridor developments will drive growth in India’s captive power generation market by 15,076.23 MW during 2019-2023, progressing at a CAGR of over 5%, according to the latest #marketresearch report by Technavio.
The market is driven by the development of smart cities and industrial corridors, said the report “Captive Power Generation Market in India Analysis Report by End-User (metals and minerals, petrochemicals, cement, sugar, and others), by Fuel Source (coal, diesel, gas, and renewables), and Segment Forecasts, 2019 – 2023”. It was released on 21 Oct 2019.
In addition, the increasing adoption of cogeneration plants is anticipated to further boost the growth of the captive power generation market in India.
The development of smart cities and industrial corridors is mainly due to the growth of the Indian economy, it noted.
Smart cities and industrial corridors are part of an urban development plan that aims to transform cities using data-driven solutions. These solutions integrate facilities, infrastructure, and citizens to ensure the efficient management of all the needs of urban areas. These developments will support the growth of the captive power generation market in India.
It listed Five Captive Power Generation Market Companies in India:
Bharat Heavy Electricals
Bharat Heavy Electricals owns and operates businesses under various segments such as power, industry, and international operations. The company offers complete steam turbine and gas turbine solutions for captive power plants.
Essar Steel
Essar Steel operates business under steel product manufacturing. The company operates two captive power plants, a natural gas-fired combined-cycle 500 MW captive power plant in the Bhander Power-Hazira plant in Gujarat and a 1,200 MW coal-fired pit-head captive power plant in the Mahan I power plant in Singrauli district, Madhya Pradesh.
Hindalco
Hindalco has business operations under various segments, namely aluminum, copper and novelis. The company operates three captive power plants in India: A 900 MW captive power plant at its Mahan Aluminium smelting plant in Singrauli district, Madhya Pradesh; a 900 MW captive power plant at its Aditya Aluminium smelter power plant at Lapanga in Sambalpur district in Odisha; and another 742 MW captive power plant in Renusagar for its Renukoot plant in Uttar Pradesh.
Jindal Steel & Power
Jindal Steel & Power businesses are categorized mainly under three segments: iron and steel, power, and others. The company operates three captive power generation plants: 810 MW captive power plant at its integrated steel plant at Angul, Odisha; a 540 MW captive power plant in Dongamauha in Raigarh district (Chhattisgarh), and another 353 MW power plant in Raigarh, Chhattisgarh.
Reliance Industries
Reliance Industries operates businesses under segments such as, refining, petrochemicals, oil and gas, organized retail, digital services, and others. The company operates a 2,100 MW captive power plant at its Jamnagar refinery in Jamnagar, Gujarat.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. fiinews.com
