With a production of 1,006 Tetrawatt-hour (TWh), India is the fifth largest producer and consumer of electricity in the world. The government targets capacity addition of 88.5 gigawatt (GW) under the 12th Five-Year Plan (2012–17) and around 100 GW under the 13th Five-Year Plan (2017–22).
Electricity production in India (excluding captive generation) stood at 911.6 TWh in FY 13, a 4 per cent growth over the previous fiscal. Over FY 07–13, electricity production expanded at a compound annual growth rate (CAGR) of 5.5 per cent.
The Government of India has contributed to the growth of the power industry in the country, through policies such as the Electricity Act (2003) and the Tariff Policy (2006). The support has led to growing mergers and acquisitions (M&A) activity and large investments in equipment manufacture and power generation.
Adani Power plans to invest US$ 17.7 billion in power generation by 2014. Also, Power Grid Corporation of India Ltd (PGCIL) plans to undertake a joint development of an India–Sri Lanka undersea transmission link with the Ceylon Electricity Board at an estimated cost of US$ 573 million.