India is the 5th largest producer of electricity in the world. At an electricity-GDP elasticity ratio of 0.8, electricity will continue to remain a key input for India’s economic growth. Electricity demand is likely to reach 155 GW by 2016-17 & 217 GW by 2021-22 whereas peak demand will reach 202 GW & 295 GW over the same period respectively. In India, the total power generated has been 1048.5 BU during the FY 2014-15. There has been a shift to renewable power as the same constitutes of 27.25% of the total installed capacity. India has a huge hydro power potential of 148 GW, out of which only 42 G has been realized till date. Steps have been taken to attract investments into the hydro sector and increase the falling share of hydroelectricity in the country’s installed capacity mix. Government is planning Hydropower Purchase Obligation (HPO), which will obligate the power
distribution companies to purchase power from hydro power plants.
India is likely to add 600 GW to 1200 GW of additional new power generation capacity before Year 2050.
The government has also set a target of renewable energy capacity by 2022, which includes of solar power, wind power, biomass-fired power and small hydro power projects.
The investment climate is positive in the power sector. Due to policy of liberalization, the sector has witnessed higher investment flows than envisaged. India has set a target of adding 93,000 MW in the 13th Five Year Plan (2017-2022).
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