Fossil fuel-based Thermal power dominated the sector
The Indian Government had accelerated its ambitious energy target by adding 402.82 GW as of August 2022 compared to 392.02 GW of FY 2021, according to a ResearchAndMarkets report on 5 May 2023.
The government has set electricity generation target of thermal, hydro, nuclear and Bhutan import for the year 2021-22 at 1,356 billion unit (BU), a growth of around 9.83% over actual generation of 1,234.60 BU for the previous year (2020-21).
Also, power generation in the country from the afore-mentioned six sources in 2020-21 was 1,234.60 BU as compared to 1,250.78 BU in 2019-20.
Thermal power (based on fossil fuel) has dominated the sector in the past few years, followed by hydro power, renewable energy sources and nuclear power.
As of April 2022, India’s installed renewable energy capacity stood at 158.12 GW, representing 39.43% of the overall installed power capacity.
Solar energy is estimated to contribute 55.34 GW, followed by 40.53 GW from wind power, 10.68 GW from biomass, 4.85 GW from small hydropower and 46.72 GW from hydropower.
The renewable energy capacity addition stood at 8.2 GW for the first eight months of FY22 against 3.4 GW for the first eight months of FY21, according to the report.
Participants in the energy industry include CESC Limited, Damodar Valley Corporation (DVC), NHPC Limited, NTPC Limited, SJVN Limited, Suzlon Energy Limited, Tata Power Limited, Websol Energy System Limited and Nuclear Power Corporation of India Limited (NPCIL). fiinews.com
