Indian Power Sector Analysis

The electricity generation target (Including RE) for 2023-24 has been fixed as 1,750 billion unit (BU), i.e. growth of around 7.2% over actual generation of 1,624.158 BU for the previous year (2022-23).

Advantage India

Growing
Demand

* India is the third-largest producer and consumer of electricity worldwide, with an installed power capacity of 426.13 GW as of November 30, 2023.

* Growing population along with increasing electrification and per-capita usage will provide further impetus. Power consumption in India in FY23 logged a 9.5% growth to 1,503.65 billion units (BU).

Attractive
Opportunities

* In the Union Budget 2023-24, the government allocated US$ 885 million (Rs. 7,327 crore) for the solar power sector including grid, off-grid, and PM-KUSUM projects.

* To meet India’s 500 GW renewable energy target and tackle the annual issue of coal demand-supply mismatch, the Ministry of Power has identified 81 thermal units which will replace coal with renewable energy generation by 2026.

Policy
Support

* 100% FDI allowed in the power sector has boosted FDI inflow in this sector.

* Schemes such as Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY) and Integrated Power Development Scheme (IPDS) are expected to augment electrification across the country.

Higher
investments

* As per the National Infrastructure Pipeline 2019-25, energy sector projects accounted for the highest share (24%) out of the total expected capital expenditure of US$ 1.4 trillion (Rs. 111 lakh crore).

* Total FDI inflows in the power sector reached US$ 17 billion between April 2000-September 2023.

Last updated: Feb, 2024

Top Power Producing States in India

  • Gujarat
  • Maharashtra
  • Tamil Nadu
  • Rajasthan
  • Karnataka
  • Uttar Pradesh
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