India to generate 1.9 trn units in FY2025
The Central Electricity Authority (CEA) estimates India’s power requirement to grow to reach 817 GW by 2030, while official target has been set to produce 1.90 trillion (BU) units in FY2025, up 9.3% on the year, says an industry focus report https://sbi.com.in/.
The demand for power in the country has increased at an unprecedented rate due to the rapid growth of the economy, added the ResearchAndMarkets report https://www.bseindia.com/.
In June 2024, power demand in India peaked at 243.3 GW, a jump of ~12% from a year ago, added the report “Power Sector in India 2024-2029”. It is available from ResearchAndMarkets since 30 Dec 2024 https://www.nseindia.com/.
The power generation in India in FY 2023 was 1.62 trillion units, as compared to 1.73 trillion units in FY 2024.
The scope of the power sector in India includes thermal power, hydropower, nuclear power, geothermal power, and renewable energy sources (RES). RES includes power generated from sources like solar energy, wind, small hydro, biomass, and urban and industrial waste https://www.conexpoconagg.com/.
The nuclear power sector presents significant growth potential in India, offering opportunities for investments, technology development, and collaborations, as the country aims to become a key player in global atomic energy production https://www.ibef.org/.
In June 2024, India had a nuclear energy capacity of 8.18 GW, with nuclear power expected to contribute around 9% to the nation’s electricity by 2047, according to the report.
In August 2024, India had a total thermal installed capacity of 242.99 GW, of which 210.96 GW was the installed capacity of coal and the rest came from lignite, diesel, and gas https://www.jpx.co.jp/english/.
The commissioning of various Ultra Mega Power Projects (UMPPs) that are based on thermal power has resulted in a significant increase in their installed capacities. Jharkhand, Madhya Pradesh, Andhra Pradesh, Gujarat, Maharashtra, and Odisha are home to some of India’s largest UMPPs http://deutsche-boerse.com.
The National Policy on Biofuels was initiated by the Ministry of Petroleum and Natural Gas in 2018. The policy focuses on utilizing and promoting domestic feedstock for biofuel production to substitute fossil fuels. It aims to enhance national energy security, mitigate climate change, and create sustainable employment opportunities. The policy also encourages the use of advanced technologies for biofuel generation https://www.wto.org/.
The drought in 2023, following the onset of El Nino, continued to have an impact in 2024 as well, which resulted in a year-on-year decline in electricity generation from hydropower in the first half of the year, noted the report.
“Despite rising demand, the peak power supply increased steadily but has not met the demand fully. In FY 2024, peak demand stood at 243.27 GW, while supply was slightly lower at 239.93 GW.”
Key players in the power sector are:
ESC Limited
Damodar Valley Corporation (DVC)
The Tata Power Company Limited
Nuclear Power Corporation of India Limited (NPCIL). Fiinews.com
