Indian Power Sector Market Size and Share Analysis - Growth Trends and Forecasts (2023 - 2028)

REPORT
INDIA POWER MARKET

STUDY PERIOD: FY2019 – FY2028
Domain: Energy & Power
Base Year: FY2022
Forecast Period: FY2023 – FY2028
Market Intelligence/Advisory
+1 617 765 2493
info@mordorintelligence.com
www.mordorintelligence.com
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TABLE OF CONTENTS
1 INTRODUCTION 4.6 Conventional Electricity Generation in GW, India, Fy2009-10 – Fy2023-24
1.1 Scope of the Study 4.7 Electricity Generation and Consumption Forecast, in Terawatt Hours, India, Till 2028
1.2 Study Assumptions and Market Definition 4.8 Coal Power Generation in India, in Terawatt Hours, Fy2016-17 – Fy2022-23
4.9 Nuclear Power Generation in India, in Terawatt Hours, Fy2009-10 - Fy2022-23
2 RESEARCH METHODOLOGY 4.10 Hydroelectricity Generation in India, in Terawatt Hours, Fy2009-10 - Fy2022-23
2.1 Research Framework 4.11 Renewables Generation in India, in Terawatt Hours, Fy2009-10 - Fy2022-23
2.2 Secondary Research 4.12 India Power Transmission Line, in Circuit Kilometer, Fy2013-2014-fy2023-2024 (till October
2.3 Primary Research 2023)
2.4 Data Triangulation & Insight Generation 4.13 India Power Transmission Substation Capacity, in Mega Volt Ampere, Fy2013-2014-fy2023-
2024 (till October 2023)
4.14 Recent Trends and Developments
3 EXECUTIVE SUMMARY
4.15 Government Policies and Regulations
4.16 Market Dynamics
4 MARKET OVERVIEW
4.16.1 Drivers – Supportive Government Initiatives and Policies to Adopt Renewable Energy
4.1 Introduction
4.16.2 Restraints – High Initial Investment Cost and Limited Natural Resources
4.2 Installed Power Generation Capacity and Forecast In GW, Till Fy2027-28
4.17 Supply Chain Analysis
4.3 Share of Installed Power Generation Capacity (%), by State, India, as of Oct 2023
4.18 Pestle Analysis
4.4 India Utility Power Installed Capacity, by Source, in Giga Watt, Fy2017-18 – Fy2022-23
4.5 India Utility Power Installed Capacity, by Sector, in Giga Watt, as of October 2023
5 MARKET SEGMENTATION
5.1 By Power Generation
2 REPORT - INDIA POWER MARKET EMISPDF in-iimahdvishwa from 35.154.106.89 on 2024-05-04 12:19:36 BST. DownloadPDF. Copyright © 2023 Mordor IntelligenceTM
TABLE OF CONTENTS
5.1.1 Thermal 6.3.9 Tata Power Company Limited
5.1.2 Hydro 6.3.10 Torrent Power Ltd
5.1.3 Renewables
5.1.4 Other Power Generation (Nuclear Power) 7 MARKET OPPORTUNITIES AND FUTURE TRENDS
5.2 Power Transmission and Distribution (T&D) Network
8 ABOUT US
6 COMPETITIVE LANDSCAPE 8.1 Industries Covered
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations and Agreements 8.1.1 Markets Covered in Energy & Power
6.2 Strategies Adopted by Leading Players 8.2 Our Customized Research Capabilities
6.3 Company Profiles
6.3.1 Adani Group
6.3.2 JSW Group
6.3.3 NHPC Limited
6.3.4 NLC India Ltd
6.3.5 NTPC Ltd
6.3.6 Power Grid Corporation Of India Ltd
6.3.7 Reliance Power Limited
6.3.8 SJVN Ltd.
1 INTRODUCTION
1.1 Scope of the Study
1.2 Study Assumptions and Market Definition
#TOC_DIVIDER#
 INTRODUCTION | METHODOLOGY |
SUMMARY
MARKET OVERVIEW MARKET SEGMENTATION COMPETITIVE LANDSCAPE ABOUT US
1.1 SCOPE OF THE STUDY
POWER GENERATION SOURCE TRANSMISSION AND DISTRIBUTION
▪ Thermal ▪ Transmission and Distribution

▪ Hydroelectric
▪ Renewable
▪ Other Power Generations
Source: Mordor Intelligence
SUMMARY
1.2 STUDY ASSUMPTIONS AND MARKET DEFINITION
BASE YEAR, REVIEW,

BASE UNIT FORECAST TERMS PRIMARY RESEARCH
AND FORECAST PERIOD
The base unit considered in the study is Giga- The base year is identified based on the Installed Capacity estimations for the Distribution of the primary interviews
Watt (GW). availability of annual reports and forecast years are in GW. conducted is based on the regional
The base currency considered was the US secondary research information. The share of the market and the presence of
Dollar (USD). Conversion of other currencies to base year considered for this study is key players in each of the demographics
USD was considered based on the average 2022. The review period considered for pertinent in the market studied.
exchange rate for the respective review-period this study is from FY2019 to FY2022. The
years. The exchange rate conversion for CAGR is for the forecast period FY2023-
forecast period was determined according to FY2028.
the base year’s conversion rates.
Note: Company revenues mentioned as per the fiscal year in the HQ of the company and currency conversion is as per the account closure date of the company.
MARKET DEFINITION
PRODUCT/
SERVICE Power Market
Power is the electricity generated from numerous energy sources such as thermal, hydroelectric, nuclear, and renewable.
DESCRIPTION The power market considered in this report includes the installed capacity of new power projects in India (Utilities). The historical and forecast data provided is
based on the financial year (April to March). The maintenance and servicing market is outside the scope of this research.
2 RESEARCH METHODOLOGY
#TOC_DIVIDER#
SUMMARY
2.1 RESEARCH FRAMEWORK
• Mordor Intelligence (MI) advocates an appropriate mix of secondary and primary research to meet Client objectives.
• MI translates market insights (market dynamics, competition, varying consumer demands, and regulations) into actionable business insights.
• Following phases are practiced at Mordor for efficient delivery of various syndicated and consulting assignments.
STEP 1 STEP 2 STEP 3

SCOPING/ PROJECT INITIATION MARKET ANALYSIS PROJECT DELIVERY
Extensive desk research to identify most relevant Triangulate and analyze data to finalize on actionable
Decipher Client Requirements/ Market to be studied
secondary information available business insights
Tailor-made research approach for Contact Mordor’s empaneled experts and identify Finalize report contents and establish a deliverable
customized reports industry experts across the market format
Report delivery with high-quality market insights,

Effective use of Mordor’s knowledge repository to Conduct primaries & surveys to gather qualitative
competitive landscape, etc.,
gather relevant insights and quantitative insights
as per the proposed contents
Confirm the objectives of the assignment with Client
SUMMARY
2.2 SECONDARY RESEARCH
OBJECTIVE Hypothesis and insights building; get factual data
A thorough synthesis of existing publications across the web to gather meaningful insights on the
Shortlisting market intelligence sources current situation of the market, technology developments, and any other market-related
information. The sources include, but are not limited to:
Synthesis of published information • Scientific Papers, Journals, and Publications
• Trade information to understand imports, exports, and average traded price of the
commodity, if available.
Data collection and aggregation • Industry and Government Websites for blogs, magazines, and
other publications
Further validated from expert interviews • Conference proceedings and association publications
• Investor presentations, technical brochures, annual reports, press releases, transcripts of key
personnel interviews, and other strategic publications by several competitors in the market.
Insight and hypothesis development • Product information, including technical specifications, approvals, patents, etc.
• Public Sources reports (Central Electricity Authority, Ministry of Power, India, National Power
To reach out industry experts for interviews Portal, India, Global Wind Energy Council (GWEC), International Hydropower Association,
International Energy Agency, BP Statistical Review of World Energy, Company annual reports,
Investor Presentations, etc.)
• Paid sources (Questel Orbit, Dow Jones, Hoovers, industry-specific subscriptions)
Key contact list
Relevance and credibility of sources
SUMMARY
2.2 KEY SOURCES USED IN THIS REPORT

• World Bank • D&B Hoovers
• UNSTATS • Factiva
• IMF • Statista
• Global Economic Monitor • Asia Wind Energy Association
• WIOD • Global Solar Council
• COMTRADE • Global Wind Energy Council (GWEC)
• TRADEMAP • International Hydropower Association
• WTO • Central Electricity Authority (India)
• WIPO/EPO • Ministry of Power, India
• OECD • National Power Portal, India
• Eurostat • Ministry of New and Renewable Energy (MNRE)
• European Union • Solar Energy Corporation of India
• IRENA
• OPEC
• IEA
• BP
• IAEA
• Energy Information Agency (EIA)
SUMMARY
2.3 PRIMARY RESEARCH
OBJECTIVE Gather first-hand insights on the market studied
• At Mordor, we continuously strive to pool in industry experts across the value chain, to gather
Expert profile determination first-hand insights on the market studied. In addition to this knowledgeable industry veterans
or retired experts, consultants and freelancers are a call away to collaborate with Mordor on
Based on industry, role, experience, and any assignment which requires real-time industry insights.
location • Also, we conduct market surveys to gather qualitative insights and opinion of a group of
individuals related to the industry.
• Primary research is used both to validate the data points obtained from secondary research
Expert identification and to fill the data gaps after secondary research.
Using Mordor’s empaneled industry experts
as well as new experts
Discussion guide MODES OF PRIMARY RESEARCH
Semi-structured approach to probe and

prioritize insights
Telephonic Email Chat Interviews Virtual Council Surveys & Others

Interviews Interviews
Reach out and interviews
Targeted industry interviews to fill data gaps

and validate insights
SUMMARY
2.3 PRIMARY RESEARCH APPROACH AND KEY RESPONDENTS
EXECUTIVE LEVEL OPERATIONAL LEVEL INDUSTRY/ NEED SPECIFIC MARKET ECOSYSTEM

INTERVIEWS INTERVIEWS INTERVIEWS INTERVIEWS
• Competitors
• CxOs, owners, founders • Sales Managers • Production Managers
• Customers
• Business unit or country heads • Product Managers • Floor shop Technicians
• End-users
• Directors/VPs of sales and marketing, • Project Managers • Technology Scouts
procurement, strategy, R&D, Product • Agencies/Distributors/Resellers
• Pricing Managers • Licensing Experts
management and other corporate
• Retailers
functions as required • Regulatory Affairs Managers • Pricing Analysts
• Suppliers
• Finance Managers
• Existing or Potential Partners
• Employees
• Regulatory Agencies
• Industry Associations
• Consultants
SPREAD OF Interviews spread across regions based on regional share BLIND/ OPEN Blind interviews without revealing the sponsor of this
INTERVIEWS in the overall market INTERVIEWS study
Raw data and intelligence, Insights into market dynamics,

40-50 interviews covering varying profiles of experts INPUTS
RESPONDENTS Market model and other data validations, Strategy
across the entire market value chain COLLECTED related inputs
SUMMARY
2.4 DATA TRIANGULATION & INSIGHT GENERATION

VALIDATION FOR MARKET ASSESSMENT ESTIMATES
OBJECTIVE Logical checks and sanity of information
• The market size estimations are carried out through ‘Bottom-up’ & ‘Top-down’ approaches.
• Our top-down and bottom-up approaches are integrated into our ‘In-house Model sheets’ which
TRIANGULATION AND TRANSFORMATION OF INFORMATION EXTRACTED are used to generate the market estimates and growth rates (depending upon the historical trends
of the respective markets along with the various factors like drivers, restraints and recent
Based on the factors identified which are endogenous and exogenous in nature collected during
developments in the market) of the product segment in the respective country.
the secondary and primary phases, our in-house subject matter experts transform quantitative
data extraction and use them for the inferential purpose.
TOP-DOWN BOTTOM-UP
APPROACH APPROACH
SECONDARY RESEARCH EXPERT INTERVIEWS
Macro view of a larger market Revenue analysis of leading
filtered down to the target Expert interviews players or consumption
market centers
DATA
TRIANGULATION VALIDATION POINT
ECONOMETRIC MODELS ANALYST ESTIMATES Expert interviews
3 EXECUTIVE SUMMARY
#TOC_DIVIDER#
SUMMARY
3 EXECUTIVE SUMMARY AND KEY FINDINGS
THERMAL NUCLEAR
434.04 GW 509.55 GW
LARGEST POWER GENERATION FASTEST GROWING POWER GENERATION
Installed Capacity in Installed Capacity in
2023-24 (GW) 2027-28 (GW) 57.02% 17.95%
Capacity Share, 2022-23 CAGR, 2023-24-2027-28
The thermal segment held the largest market share of the The nuclear segment is expected to grow at the fastest
Indian power market in 2022-23. rate in the Indian power market during the forecast
4.03% 4.14%
period.
CAGR CAGR
(2018-19 to 2023-24) (2023-24 to 2027-28)
MAJOR EXISTING PROJECTS MAJOR UPCOMING PROJECTS LEADING MARKET PLAYERS

2022
2022 2022
• Mundra Ultra Mega Power Plant (4,000 MW)

• Singrauli Power Plant Expansion (1,600 MW) • NTPC LIMITED
• Tiroda Coal Based Power Plant (3,300 MW)
• Ghatampur thermal power plant (3 x 660 MW)
• Sasan Ultra Mega Power Plant (3,960 MW) • TATA POWER LIMITED
• Pithead Thermal Power Plant (3 x 800 MW)
• Talcher Super Thermal Power Plant (3,000 MW)
• ADANI POWER LIMITED
• Basundhara Thermal Power Plant (2 x 800 MW)
• Rihand Thermal Power Plant (3,000 MW)
• POWER GRID CORPORATION OF INDIA
• Sipat Thermal Power Plant (2,980 MW)
LIMITED
4 MARKET OVERVIEW
4.1 Introduction
4.2 India Installed Power Generating Capacity Forecast, in Gigawatt, till FY2027-28
4.3 Share of Installed Power Generation Capacity (%), by State, India, As of October 2023
4.4 India Utility Power Installed Capacity, by Source, in Giga Watt, FY2017-18 – FY2022-23
4.5 India Utility Power Installed Capacity, by Sector, in Giga Watt, As of October 2023
4.6 Conventional Electricity Generation in GW, India, FY2009-10 – FY2023-24
4.7 Electricity Generation and Consumption Forecast, in Terawatt Hours, India, till FY2027-28
4.8 Coal Power Generation in India, in Terawatt Hours, FY2016-17 – FY2022-23
4.9 Nuclear Power Generation in India, in Terawatt Hours, FY2009-10 - FY2022-23
4.10 Hydroelectricity Generation in India, in Terawatt Hours, FY2009-10 - FY2022-23
4.11 Renewables Generation in India, in Terawatt Hours, FY2009-10 - FY2022-23
#TOC_DIVIDER#
4 MARKET OVERVIEW
4.12 India Power Transmission Line, in Circuit Kilometer, Fy2013-2014-FY2023-2024 (till October
2023)
4.13 India Power Transmission Substation Capacity, in Mega Volt Ampere, FY2013-2014-FY2023-
2024 (till October 2023)
4.14 Recent Trends and Developments
4.15 Government Policies and Regulations
4.16 Market Dynamics
o 4.16.1 Drivers
o 4.16.2 Restraints
4.17 Supply Chain Analysis
4.18 PESTLE Analysis
#TOC_DIVIDER#
SUMMARY
4.1 INTRODUCTION
INDIA POWER MARKET OVERVIEW
BACKGROUND
• India is one of the major economies in the world and is home to a vast power market that has been
• The power access is crucial to drive the country’s economic growth. Universal access to clean, fully liberalized. The electric power industry in India covers the generation, transmission,
affordable, and reliable energy has highlighted the importance of power generation technologies. distribution, and sale of electric energy in India.
• A large section of the Indian population faces an electricity shortage despite having robust • India is one of the prominent power-generation and consuming markets in the Asia-Pacific region.
electricity access in the country due to the unavailability of a centralized grid. Hence, increasing Fossil fuel-based power generation, particularly natural gas and coal, had a significant share,
investments in power transmission and distribution networks appears to be a potential paving the way for the increased deployment of the power market in the country.
opportunity to enable energy independence in rural areas in India. This will likely benefit the • According to the Ministry of Power statistics, as of October 2023, the total electricity generation
development of the power market in the country. was dominated by fossil fuels, which account for more than 56% (~6% from natural gas, 1.6% from
• The Indian power sector has coal-fired electricity generation that dominates with more than fifty lignite, ~0.1% from diesel, and ~49% from coal) of the electricity produced in India, followed by
percent of the diversified energy mix as of October 2023. However, environmental concerns such renewable energy, which accounts for about 41.4% (11.2 % from hydro, 10.3 % from wind, 16.1 %
as growth in carbon dioxide emissions due to fossil fuel electricity generation and its impact on from solar, 1.2% from small hydropower and 2.6% other sources). Though the share of renewable
climate have made it necessary to opt for clean energy generation in the country. power sources is increasing rapidly in the country, fossil fuels-based power sources, especially
coal-fired power plants, are likely to dominate the sector in the short term. Such a scenario in the
• In recent years, the government has issued comprehensive frameworks, policies, and plans to power generation industry is expected to influence the growth of the Indian power market during
deploy renewable energy projects in a phased manner. the forecast period.
• The power sector in India is undergoing a rapid transformation, owing to the increasing population,
rising energy demand, and growing industrial sector. Moreover, India’s electricity generation mix
shifted to natural gas and renewable energy sources over the past decade.
• India’s natural power generation resources, particularly coal mines and water reservoirs, are
unevenly dispersed. As a result, the country requires a long transmission network to supply power
to rural areas in the country. But the transmission network in the country is in poor condition. A
significant share of the rural population in the country is not connected to the grid. The
transmission and distribution losses in the country are significantly higher than the global average.
As a result, the country requires investments in the commissioning of new T&D networks and
retrofitting of the existing network.
SUMMARY
4.1 INTRODUCTION
ACTUAL POWER GENERATION IN MILLION UNITS, BY ENERGY SOURCE, INDIA, INDIA POWER MARKET OVERVIEW
FY2023 • During COP26 in November 2021, the Prime Minister of India announced that India plans to reduce
emission intensity by 45% or more by 2030, bringing it to levels below those of 2005, and
announced 500 GW of non-fossil fuels energy capacity by 2030 and 50% renewables in the energy
852112.71 mix by 2030. Such initiatives have emphasized promoting renewable energy generation during the
study period.
• On the other hand, the renewable energy sector is governed by the Ministry of New & Renewable
Energy (MNRE), which is responsible for creating and enforcing India’s renewable energy laws and
regulations, including the Feed-in Tariff system (FIT).
• For instance, as of 2022, the Ministry of New and Renewable Energy (MNRE) provides Central
Financial Assistance (CFA) of up to INR 2.5 million per solar park for the preparation of a Detailed
Project Report (DPR). CFA of up to INR 2 million per MW or 30% of the project cost, including grid-
connectivity cost, whichever is lower, is also provided. Additionally, the CFA of INR 2 million/MW is
apportioned on a 60:40 basis toward the development of the internal infrastructure of the solar
park to the SPPD and for the development of the external transmission system to Central
Transmission Utility (CTU)/ State Transmission Utility (STU) respectively.
• Such schemes have enabled the rapid rise in installed solar capacity in the country, fueled by the
rapid rise in the number of large utility-scale solar plants in the region. This has led to massive
demand for solar energy in the country, which is expected to continue during the forecast period.
• India is also one of the largest renewable energy markets in Asia-Pacific. India’s installed capacity
107747.54 for renewable energy reached more than 132 GW as of November 2023, excluding hydropower.
Solar, wind, and bioenergy are the major renewable energy sources in the country. As of November
30873.32 2023, renewable energy sources, including hydropower, accounted for approximately 41.4% of the
total electricity generation mix.
Thermal Nuclear Hydro
Note: Data Mentioned is from April 2023 to November 2023
Source: National Power Portal, India
SUMMARY
4.1 INTRODUCTION
INDIA POWER MARKET OVERVIEW INDIA POWER MARKET OVERVIEW

• Moreover, India has set an ambitious target to install over 500 GW of renewable energy by 2030. • The government of India evaluates that the states of Gujarat and Tamil Nadu independently have
As per the envisaged target, the increase in the installation of solar energy projects is expected to about 70 GW of potential for offshore wind power, adequately to power around 50 million
make solar energy in the Indian power market during the period studied. homes.
• India is expected to invest significantly in renewable energy during the forecast period. Combined • In January 2023, the Indian government, Solar Energy Corporation of India Limited (SECI), and the
with strong legislative support to realize the country’s renewable energy targets, the renewable World Bank signed agreements for a USD 150 million International Bank for Reconstruction and
energy sector in India is expected to grow steadily during the forecast period. Development (IBRD) loan, a USD 28 million Clean Technology Fund (CTF) loan and a USD 22
• The National Solar Mission has become a key component of India's National Action Plan on Climate million CTF grant to support India in expanding its power generation capacity through cleaner,
Change. The National Solar Mission (NSM) was launched on 11 January 2010. It is an important renewable energy sources. The agreement emphasizes the Government of India’s commitment
initiative of the Government of India, with the active participation of state governments, to to achieving the ambitious targets of renewable energy to be achieved by 2030 to address the
promote ecological sustainability and energy security in India. challenges of climate change.
• India's renewable energy potential is vast and untapped. The National Institute of Solar Energy has • In April 2023, the Ministry of New and Renewable Energy announced plans to add 250 GW of
estimated that India has a solar potential of approximately 748 GW. The National Solar Mission has renewable energy capacity in the next five years. The government has invited bids for 50 GW of
become a key component of India's National Action Plan on Climate Change. The National Solar renewable energy capacity annually for the next five years, i.e., from Financial Year 2023-24 till
Mission (NSM) was launched on 11 January 2010. It is an important initiative of the Government of Financial Year 2027-28.
India, with the active participation of state governments, to promote ecological sustainability and • In addition to this, the ministry has declared a quarterly schedule of the bids for FY 2023-24,
energy security in India. which incorporates proposals for at least 15 GW of renewable energy capacity in each of the first
• The Government of India is promoting wind power projects across the country through private and second quarters of the financial year (April-June 2023 and July-September 2023
sector investment by providing various financial benefits such as concessional custom duty respectively), and at least 10 GW in each of the third and fourth quarters of the financial year
exemption and accelerated depreciation benefits on certain components of wind electric (October-December 2023 and January-March 2024 respectively).
generators. • Therefore, efforts from the government to boost the share of natural gas and renewable energy
• Similarly, in June 2022, the Indian government announced the first steps in developing offshore sources in the total electricity generation mix and favorable government policies to promote
wind power and outlined a strategy and timeline for starting auctions. Additionally, India renewable energy are expected to drive the Indian power market during the forecast period.
announced its intention to install 500 GW of non-fossil fuel-based energy generation capacity by
2030, including 30 GW of offshore wind power.
SUMMARY
4.2 INSTALLED POWER GENERATION CAPACITY AND FORECAST IN GW, TILL FY2027-28
POWER MARKET, INSTALLED POWER GENERATION CAPACITY AND FORECAST IN GW, INDIA, 2018-19 TO 2027-28
CAGR (2018-19 TO 2027-28): 4.14%
509.55
486.13
464.00
447.94
434.04
416.06
399.50
382.15
370.11
356.10
2018-19 (a) 2019-20 (a) 2020-21 (a) 2021-22 (a) 2022-23 (a) 2023-24 (e) 2024-25 (f) 2025-26 (f) 2026-27 (f) 2027-28 (f)
SUMMARY
4.3 SHARE OF INSTALLED POWER GENERATION CAPACITY (%), BY STATE, INDIA, AS OF OCT 2023
SHARE OF INSTALLED POWER GENERATION CAPACITY (%), BY STATE, INDIA, AS OF OCT 2023
STATE NAME SHARE OF INSTALLED POWER GENERATION CAPACITY (%)
Delhi 1.67%
Haryana 3.23%
Himachal Pradesh 1.09%
Jammu & Kashmir

and 0.85%
Ladakh
Punjab 3.46%
Rajasthan 9.68%
Uttar Pradesh 7.19%
Uttarakhand 1.06%
Chandigarh 0.06%
Goa 0.15%
Gujarat 11.69%
Source: Central Electricity Authority
SUMMARY
Madhya Pradesh 6.31%
Chhattisgarh 3.35%
Maharashtra 11.14%
Dadra and Nagar

Haveli and Daman 0.18%
and Diu
Andhra Pradesh 6.44%
Telangana 4.53%
Karnataka 7.87%
Kerala 1.57%
Tamil Nadu 9.17%
NLC 0.02%
Puducherry 0.10%
Bihar 1.91%
SUMMARY
Jharkhand 0.67%
West Bengal 2.59%
DVC 0.78%
Odisha 1.92%
Sikkim 0.17%
Assam 0.45%
Arunachal Pradesh 0.19%
Meghalaya 0.16%
Tripura 0.16%
Manipur 0.07%
Nagaland 0.05%
Mizoram 0.06%
Andaman & Nicobar 0.03%
Lakshadweep 0.01%
SUMMARY
4.4 INDIA UTILITY POWER INSTALLED CAPACITY, BY SOURCE, IN GIGA WATT, FY2017-18 – FY2022-23
POWER MARKET, INDIA UTILITY POWER INSTALLED CAPACITY, BY SOURCE, IN GIGA WATT, FY2017-18 – FY2022-23
2017-18 2018-19 2019-20 2020-21 2021-22 2022-23

Thermal 222.9 226.3 230.6 234.7 236.1 237.3
Nuclear 6.8 6.8 6.8 6.8 6.8 6.8
Renewables 114.3 123.0 132.7 140.6 156.6 172.0
SUMMARY
4.5 INDIA UTILITY POWER INSTALLED CAPACITY, BY SECTOR, IN GIGA WATT, AS OF OCTOBER 2023
POWER MARKET, INDIA UTILITY POWER INSTALLED CAPACITY, BY SECTOR, IN GIGA WATT, AS OF OCTOBER 2023
217.78
105.53 102.21
State Sector Private Sector Central Sector
SUMMARY
4.6 CONVENTIONAL ELECTRICITY GENERATION IN GW, INDIA, FY2009-10 – FY2023-24

POWER MARKET, CONVENTIONAL ELECTRICITY GENERATION IN GW, INDIA, FY2009-10 – FY2023-24
234.73 236.11 236.11 239.07

222.91 226.28
218.33
210.68
188.90
168.26
151.53
131.60
112.82
102.45
93.73
2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 (As of
November
2023)
SUMMARY
4.7 ELECTRICITY GENERATION AND CONSUMPTION FORECAST, IN TERAWATT HOURS, INDIA, TILL 2028
POWER MARKET, ELECTRICITY GENERATION AND FORECAST, IN TERAWATT HOURS, INDIA, 2018-19 - 2027-28
CAGR (FY2022-23-FY2027-28): 5.83%
2067.74
1924.37
1804.47
1704.90
1623.17
1557.30
1484.46
1371.78 1383.42 1373.19
2018-19 (a) 2019-20 (a) 2020-21 (a) 2021-22 (a) 2022-23 (a) 2023-24 (e) 2024-25 (f) 2025-26 (f) 2026-27 (f) 2027-28 (f)
SUMMARY
4.7 ELECTRICITY GENERATION AND CONSUMPTION FORECAST, IN TERAWATT HOURS, INDIA, TILL 2028
POWER MARKET, ELECTRICITY CONSUMPTION AND FORECAST, IN TERAWATT HOURS, INDIA, 2018-19 - 2027-28
CAGR (FY2022-23-FY2027-28): 5.79%
1825.81
1691.52
1614.10
1509.35
1447.87
1378.21
1316.77
1248.09 1230.21
1209.97
2018-19 (a) 2019-20 (a) 2020-21 (a) 2021-22 (a) 2022-23 (a) 2023-24 (e) 2024-25 (f) 2025-26 (f) 2026-27 (f) 2027-28 (f)
SUMMARY
4.8 COAL POWER GENERATION IN INDIA, IN TERAWATT HOURS, FY2016-17 – FY2022-23

COAL POWER GENERATION IN TERAWATT HOURS, INDIA, FY2016-17 – FY2022-23
1182.10
1078.58
1022.265
986.591 994.20 981.44
944.022
2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23
Source: Central Electricity Authority of India (CEA)

*Financial Year ends in March of each year
SUMMARY
4.9 NUCLEAR POWER GENERATION IN INDIA, IN TERAWATT HOURS, FY2009-10 - FY2022-23

NUCLEAR POWER GENERATION IN TERAWATT HOURS (TWH), INDIA, FY2009-10 - FY2022-23
46.47 47.11
45.86
43.03
37.916 38.35 37.813

37.41
36.1
34.23
32.29 32.87
26.3
18.64
2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23*
Source: Central Electricity Regulatory Commission (CERC), Central Electricity Authority of India (CEA)
Note: * As on 31st Dec 2022 (tentative)
SUMMARY
4.10 HYDROELECTRICITY GENERATION IN INDIA, IN TERAWATT HOURS, FY2009-10 - FY2022-23
HYDROELECTRICITY GENERATION IN TERAWATT HOURS (TWH), INDIA, FY2009-10 - FY2022-23
162.10
155.68
150.30 151.63
134.85 134.89
130.51 129.24
126.12
121.38 122.38
114.30 113.72
104.06
2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23*
Source: Central Electricity Regulatory Commission (CERC), Central Electricity Authority of India (CEA) Note: * As on 31st Dec 2022 (tentative)
SUMMARY
4.11 RENEWABLES GENERATION IN INDIA, IN TERAWATT HOURS, FY2009-10 - FY2022-23

RENEWABLES GENERATION IN TERAWATT HOURS (TWH), INDIA, FY2009-10 - FY2022-23
203.55
170.91
147.25
138.34
126.76
101.84
81.55
65.78
59.62 61.79
57.45
51.23
41.15
36.95
2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23*
Source: Central Electricity Regulatory Commission (CERC), Central Electricity Authority of India (CEA) Note: * As on 31st Dec 2022 (tentative)
SUMMARY
4.12 INDIA POWER TRANSMISSION LINE, IN CIRCUIT KILOMETER, FY2013-2014-FY2023-2024 (TILL OCTOBER
2023)
POWER TRANSMISSION LINE, IN CIRCUIT KILOMETER, INDIA, FY2013-2014-FY2023-2024 (TILL OCTOBER 2023)
4,71,341.00 4,76,547.00
4,56,716.00
4,41,821.00
4,25,071.00
4,13,407.00
3,90,970.00
3,67,851.00
3,41,551.00
3,13,437.00
2,91,336.00
2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 (till October
2023)
Source: National Power Portal, Ministry of Power Notes: Total transmission lines (220kV and above)
SUMMARY
4.13 INDIA POWER TRANSMISSION SUBSTATION CAPACITY, IN MEGA VOLT AMPERE, FY2013-2014-FY2023-2024 (TILL
OCTOBER 2023)
POWER TRANSMISSION SUBSTATION CAPACITY, IN MEGA VOLT AMPERE, INDIA, FY2013-2014-FY2023-2024 (TILL OCTOBER 2023)
12,02,478.00
11,80,352.00
11,04,450.00
10,25,468.00
9,67,893.00
8,99,663.00
8,26,958.00
7,40,765.00
6,58,949.00
5,96,100.00
5,30,546.00
2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 (till October
2023)
Source: National Power Portal, Ministry of Power
SUMMARY
4.14 RECENT TRENDS AND DEVELOPMENTS
AMAZON EXPANDS • In November 2023, Amazon Inc., an American multinational technology company, launched a 198-megawatt (MW) wind farm located in Osmanabad,
RENEWABLE ENERGY Maharashtra, India. This addition marks Amazon’s 50th wind and solar project in India, thereby reaching more than 1.1 gigawatts (GW).
MARKET IN INDIA, WITH • Between 2014 and 2022, the company’s wind and solar farms played a significant role in generating an estimated USD 349 Million (INR 2,885 Crores) in
198 MW WIND FARM economic investment for Indian communities.
• In October 2023, Axitec Energy India announced its plans to set up a 600 MW pilot solar module manufacturing capacity. The development is anticipated to
manage the production of n-type solar modules bifacial glass-glass variants with a capacity of 580 watts and 585 watts.
ESTABLISHMENT OF SOLAR
• As per the plan, the company is expected to set up a 300 MW production facility in Gujarat and another 300 MW capacity in Tamil Nadu that could start
MODULES FACILITY OF 600
commercial production in 2024.
MW
• With the increased production, the company is expected to cater to the demand for solar modules, particularly from the commercial and industrial
segments, in the near future.
• In October 2023, the Solar Energy Corporation of India (SECI) launched a tender in the Indian market to develop about one gigawatt of interstate
SOLAR TENDER OF ONE transmission grid-connected solar projects.
GIGAWATT
• The solar projects to be developed are expected to witness the signing of a 25-year power purchase agreement between developers and SECI.
SUMMARY
GOVERNMENT OF • The Government of Arunachal Pradesh has allotted five hydropower projects of 5,097 MW to Satluj Jal Vidyut Nigam (SJVN), an Indian public sector unit
ARUNACHAL PRADESH HAS undertaking involved in hydroelectric power generation and transmission.
ALLOTTED FIVE HYDRO
• The projects include 3,097 MW Etalin, 680 MW Attunli, 500 MW Emini, 420 MW Amulin, and 400 MW Mihumdon. The projects are situated on the banks of
POWER PROJECTS OF 5,097
the Dibang River.
MW TO SJVN
SOLAR TRACKERS OF 242

MW FOR INDIAN POWER • In June 2023, the Chinese company - Arctech inked an agreement with Sterling & Wilson to facilitate about 242 MW of solar trackers in India.
SECTOR
• In June 2023, Indian Telephone Industries Limited, India, issued a tender for the sale of 720,000 multi-crystalline solar cells. As per the tender information,
SUPPLY OF 720,000 the cells must have an efficiency level of 18.8%, a fill factor of almost 80%, and a minimum power of cells at 1.17 W.
MULTICRYSTALLINE SOLAR
CELLS • Further, ITI is anticipated to supply about 250,000 multi-crystalline solar cells in monthly lots to successful buyers. The sale of multi-crystalline solar cells is
likely to help the industry stakeholders procure the same for their solar projects
SUMMARY
• In August 2023, Coal India Limited, NLC India Ltd announced its plans to set up multiple thermal power plants across the country to meet the growing
demand for electricity.
COAL INDIA LIMITED, NLCIL • NLCIL, in partnership with the Uttar Pradesh government, is expected to construct a 3 x 660 MW thermal power plant in Ghatampur near Kanpur. The
ANNOUNCED PLANS FOR project, estimated to cost INR 19,406 crore, will supply 1478.28 MW of power to Uttar Pradesh and 492.72 MW to Assam.
THERMAL POWER PLANTS • Also, NLCIL is working on a 3 x 800 MW pithead thermal power plant at Talabira in Odisha, which is projected to cost INR 19,422 crore. The plant is expected
to supply 1450 MW of power to Tamil Nadu, 100 MW to Puducherry, and 400 MW to Kerala. The project is expected to commence by year-end and aims for
completion by 2028-29.
• In June 2023, NTPC Vidyut Vyapar Nigam Limited (NVVN), a subsidiary of NTPC, inaugurated a solar project at IIT Jodhpur.
NTPC’S 1 MW ROOFTOP
SOLAR POWER PROJECT • The new rooftop solar project has a capacity of 1 MW, and the project is set to reduce carbon emissions and a step towards a greener environment. The
project was established under the Renewable Energy Service Company (RESCO) model.
INDIA APPROVED ITS • In February 2023, the Government of India approved one of its largest hydropower projects in the mountainous northeastern region neighboring China.
LARGEST HYDROPOWER
PROJECT • The government has greenlit an estimated investment of USD 3.9 billion for the Dibang project, which is expected to have a capacity of 2,880 MW.
SUMMARY
UNITED STATES COMPANY

SIGNED A LETTER OF • In February 2023, the United States Company signed a letter of intent with the Uttar Pradesh state government ahead of the Global Investors' Summit (GIS)
INTENT WITH THE UTTAR to invest USD 99.65 million in the new technology.
PRADESH STATE • The company has signed 269 letters of intent (LoI) so far to invest in the renewable energy sector in Uttar Pradesh.
GOVERNMENT
SKODA AUTO VOLKSWAGEN • In February 2023, SKODA AUTO Volkswagen India commissioned a solar-powered rooftop at its Chakan plant in Pune, Maharashtra. The plant has a capacity
INDIA INCREASES ITS SOLAR of 18.5 MW.
ROOFTOP CAPACITY TO 18.5
• The solar plant is expected to produce 26.6 million kWh of energy annually, providing up to 30% of the Chakan Plant's annual electricity requirements.
MW
• In November 2022, the Ministry of New and Renewable Energy has increased the timeline for India’s Rooftop Solar (RTS) program. The program has been
ROOFTOP SOLAR EXTENDS extended for four years, from 2022 to 2026, with no increase in budget.
DEADLINE FOR TARGET
• The program aims to accomplish the target of 4000 MW (40 GW) rooftop solar (RTS) capacity addition by March 2026.
SUMMARY
AMAZON INDIA
• In September 2022, a total of 23 new solar rooftop projects have been announced by Amazon, which is expected to generate 4.09 MW of renewable energy
ANNOUNCED ROOFTOP from its fulfillment centers in 14 cities.
SOLAR PROJECTS IN INDIA
WORLD BANK PROVIDES • In June 2022, the World Bank Board of Executive Directors provided USD 165 million of financing for India’s residential sector. The fund is expected to be
FUNDS TO SUPPORT used to adopt rooftop solar systems and make solar energy more affordable.
RENEWABLE ENERGY IN
INDIA’S RESIDENTIAL • The project is expected to reduce greenhouse gas (GHG) emissions by 13.9 million tons. The additional financing is expected to support the government’s
aim of achieving 40 gigawatts (GW) of solar rooftop installations by 2026.
SECTOR
INDIA’S FIRST PORTABLE • In April 2022, a portable solar rooftop system was installed in Gandhinagar, Gujarat. The 10 PV Port system was installed at the Swaminarayan Akshardham
SOLAR ROOFTOP SYSTEM temple complex in Gandhinagar and manufactured by a German development agency - Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ).
INAUGURATED • The PV Port systems have a minimum power of 2kWp and are standard plug-and-play photovoltaic systems.
SUMMARY
4.15 GOVERNMENT POLICIES AND REGULATIONS
• The Government of India has set a target for establishing 50% cumulative electric power installed capacity from non-fossil fuel-based energy resources by
2030. In this regard, the following additional initiatives have been taken toward integration of Renewable power in the grid:
➢ Transmission schemes for integration of 66.5GW renewable generation in states like Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Karnataka,
Andhra Pradesh, and Tamil Nadu have been planned and are under various stages of implementation.
➢ About 55.08 GW of renewable potential has been identified in Rajasthan, Gujarat, Himachal Pradesh, and Ladakh, for which planning of transmission
system has been carried out, and the implementation of the same would be taken up.
MINSTRY OF POWER 500 ➢ About 33.35 GW of renewable generations can be integrated into the ISTS grid through margins at various existing/ under construction ISTS S/s.
GW NONFOSSIL FUEL ➢ For the remaining capacity addition, SECI has preliminarily identified 181.5GW potential Renewable Energy Zones in 8 states, viz. Andhra Pradesh,
TARGET Karnataka, Telangana, Rajasthan, Maharashtra, Madhya Pradesh, and Offshore wind at Gujarat and Tamil Nadu with various hybrid and solar
locations planned with Storage (BESS of 43.6GW). In this regard, a report for transmission systems for integration of over 500GW of non-fossil fuel-
based generation capacity by 2030 has been prepared by the Central Electricity Authority.
• About 51,000 kilometers of transmission lines and 4,33,500 MVA of transformation capacity are expected to be added to the Inter-State Transmission
System (ISTS) network at an estimated cost of about INR 2,44,000 Crores. These transmission schemes include various high-capacity 765kV and 400kV
EHVAC transmission lines and ±800kV & ±350kV HVDC lines.
SUMMARY
• In March 2022, the Ministry of New and Renewable Energy (MNRE) executed Rooftop Solar Programme Phase-II. The program is for the residential sector,
including for households in rural areas.
• The target is to install a 40,000 MW rooftop solar (RTS) capacity addition through Central Financial Assistance (CFA).
ROOFTOP SOLAR • For individual households, Central Financial Assistance up to 20% for RTS system capacity beyond 3 kW and up to 10 kW, and 40% of the benchmark cost is
provided for RTS projects up to 3 kW capacity.
PROGRAMME PHASE-II • Central Financial Assistance is limited to 20% for RTS plants for the supply of power to common facilities of a maximum 500 kW capacity for Group Housing
Societies/Residential Welfare Associations.
• The Ministry of New and Renewable Energy has allocated 3162 MW of RTS capacity against a total of 40,00 MW capacity targeted under the Programme in
the residential sector based on demand coming from Distribution Utilities and other State implementing agencies.
• In May 2022, the Delhi Government approved the draft of the state's new Solar Policy 2022, which aims to install 6,000 MW of solar capacity by 2025, an
increase from the previous target of 2,000 MW.
• According to the Deputy Chief Minister, the new policy will increase the share of solar energy in Delhi’s electricity demand from 9% to 25% within three
years. In addition, the Delhi Solar Cell will create a single-window state portal that will provide relevant information about the benefits of PV systems,
DELHI’S NEW SOLAR POLICY process guidelines, and timelines regarding the installation of PV systems.
• Further, the installation of solar panels on the roofs of government buildings with an area of 500 square meters or more was made mandatory.
• For residential consumers who install raised structures with a minimum ground clearance of six feet or higher, the government will provide capital subsidies.
The subsidy rate will be INR 2000/kW, with a maximum amount of INR 10,000 per consumer. This amount will be reflected on each consumer’s electricity
bill.

SUMMARY
• Renewable Energy Certificates are necessary to monetize the rooftop solar PV plant in time. These certificates are for rooftop plants of 250 kW or greater
capacity. Every 1 MWh (1,000 units) of energy generated is eligible for 1 REC.
• Criteria for REC:
➢ The project should have a minimum generating capacity of 250 kW
➢ The power generated should not be sold to any distribution licensee at a preferential tariff
RENEWABLE ENERGY ➢ Captive solar power generators should not be:

❑ Availing promotional wheeling charges.
CERTIFICATES (RECS)
❑ Availing promotional banking charges.
❑ Not receiving any exemption/waiver of electricity taxes or duties.
❑ Only grid-connected projects can avail of RECs. Off-grid projects are not eligible.
❑ The solar project should be accredited by the State Nodal Agency 6 months before the project’s commissioning date.
❑ The solar project should be registered with the Central Agency 3 months before the project’s commissioning date.
SUMMARY
• Some of the policies and initiatives for the development and facilitation of domestic solar manufacturing abilities by the Ministry of New & Renewable
Energy (MNRE) are:
➢ Production Linked Incentive Scheme: The production-linked incentive scheme (PLI) aims to accelerate India’s solar PV module manufacturing abilities to
NEW POLICIES TO SUPPORT highlight the setting up of gigawatt-scale facilities to manufacture high-efficiency solar PV modules and PV cells with an investment of USD 2883.9
GROWTH OF SOLAR million. The scheme is envisaged to be implemented in two tranches, where tranche – I and tranche – II have a capital outlay of about USD 540.7 million
and USD 2343.2 million. This would potentially help the solar industry’s equipment market to grow in the near future.
MANUFACTURING IN INDIA
➢ Domestic Content Requirement: It stresses the facilitation of subsidies to consumers coming under schemes like Central Public Sector Undertaking
(CPSU) scheme phase II, PM KUSUM component B, and grid-connected solar rooftop program phase - II to use solar PV cells and modules manufactured
locally.
SUMMARY
• The Indian government set up the Bureau of Energy Efficiency in March 2002 under the provisions of the Energy Conservation (EC) Act, 2001. As a quasi-
regulatory and policy advisory body, the Bureau helps develop policies and strategies that emphasize self-regulation and market principles to achieve the
main objective of reducing the economy's energy intensity.
• The Act came into force in March 2002. The broad objectives of the EC Act 2001 are:
• Promote faster adoption of energy efficiency and conservation through regulation, participation, and cost-effective measures.
• Involve States and other stakeholders in the energy efficiency initiatives.
• Create a sustainable environment for the demand for energy-efficient products, technologies, and professionals.
• Energy supply and consumption.
The Energy Conservation (Amendment) ACT 2022 seeks to amend the following,
ENERGY CONSERVATION
• Legal framework to mandate the use of non-fossil sources, including green hydrogen for energy and feedstock: To decarbonize the Indian economy,
ACT AND FORMATION OF promoting non-fossil energy sources and non-fossil feedstock is essential. The Government of India is implementing a Green Hydrogen Mission to promote
BUREAU OF ENERGY green hydrogen.
• Framework for carbon markets: Climate change has become a challenge to the sustainability of the entire ecosystem due to carbon-intensive activities.
EFFICIENCY
Carbon markets have been successful in reducing greenhouse gas emissions across the world. A carbon trading mechanism is being proposed to facilitate
private sector involvement, thereby lowering the economic cost of reducing emissions.
• Bringing large residential buildings within the fold of the energy conservation regime: Residential buildings consume about 24% of total electricity in India,
and this sector is poised for exceptional growth during the next two decades, with an estimated addition of about 3 billion square meters by 2030. Due to
the increasing adoption of air conditioners and other appliances, the demand for electricity from the building sector is expected to increase many folds, and
it may become one of the largest sectors to consume electricity.
• Increasing the scope of the Energy Conservation Building Code (ECBC): The scope of the “Energy Conservation Building Code” is widened to include
renewable energy and sustainable building concepts. It will also be renamed the Energy Conservation and Sustainable Building Code.
• Powers to State Electricity Regulatory commissions for a smooth enforcement process are included.
SUMMARY

• The National Solar Mission was launched in January 2010. NSM is a major initiative of the Government of India with active participation from states to
promote sustainable growth while addressing India’s energy security challenges.
• It was anticipated to constitute a vital contribution by India to the global effort to meet the challenges of climate change. The Mission’s objective is to
establish India as a leader in solar energy by creating the policy conditions for solar energy diffusion across the country as quickly as possible.
• This is in line with India’s Nationally Determined Contributions (NDCs) target to achieve about 50% cumulative electricity installed capacity from non-fossil
NATIONAL SOLAR MISSION fuel-based energy resources by the year 2030 and to reduce the emission intensity of its GDP by 45% by the year 2030 from 2005 level.
• In order to achieve the above target, the Indian Government has launched various schemes to encourage the generation of solar energy in the country, such
as the Solar Park Scheme, VGF Schemes, CPSU Scheme, Defense Scheme, Canal bank and canal top Scheme, and Grid Connected Solar Rooftop Scheme.
• The Government of India issued the National Wind-Solar Hybrid Policy in May 2018. The major objective of the policy is to provide a framework for
promoting large-scale grid-connected wind-solar Photovoltaic hybrid systems for efficient utilization of wind and solar energy resources, transmission
infrastructure, and land. The wind-solar photovoltaic hybrid systems are expected to reduce the variability in renewable electricity generation and
achieve better grid stability. The policy mainly aims to encourage new technologies, methods, and way-outs involving the combined operation of solar
photovoltaic and wind power plants.
The Major Highlights of the Policy are as follows:
NATIONAL WIND-SOLAR
• A wind-solar plant is expected to be recognized as a hybrid plant if the rated power capacity of one resource is around 25% of the rated power capacity
HYBRID POLICY of other resources.
• Both AC and DC integration of wind-solar hybrid projects are allowed.
• The power procured from the project may be used to fulfill solar renewable purchase obligation and non-solar RPO in proportion to the rated capacity of
solar and wind power in the hybrid plant.
• Existing wind or solar power projects, willing to install solar PV plants or wind turbine generators (WTGs), respectively, may benefit from the hybrid
project. (P.T.O)
SUMMARY
• All financial incentives available to solar and wind power projects are expected to be made available to hybrid projects.
• The Central Electricity Authority (CEA) and Central Electricity Regulatory Commission (CERC) shall formulate necessary standards and regulations, including
NATIONAL WIND-SOLAR metering methodology and standards, forecasting and scheduling regulations, REC mechanism, and grant of connectivity and sharing of transmission lines,
HYBRID POLICY for wind-solar hybrid systems.
• Storage may be added to the hybrid project to ensure the availability of firm power for a particular period.
• Objectives: Exploring and promoting the deployment of offshore wind farms in India's Exclusive Economic Zone. Encouraging investment in energy
infrastructure. Promoting spatial planning of maritime renewable energy resources in India's EEZ through suitable incentives.
• Policy: Under the policy, the Ministry of New and Renewable Energy has been authorized as the nodal Ministry for the use of offshore areas within the
Exclusive Economic Zone of the country, and the National Institute of Wind Energy has been authorized as the agency for development and promotion of
offshore wind energy in India and to carry out the allocation of offshore wind energy blocks, coordination with related ministries and agencies.
NATIONAL OFFSHORE WIND
• It is expected to pave the way for offshore wind power development, including the setting up of offshore wind energy plants and research and development
ENERGY POLICY, 2015 activities in waters up to the seaward distance of around 200 nautical miles from the baseline.
• Preliminary assessments along the 7,600 kilometers of the Indian coastline have indicated prospects of the development of wind power plants. With the
introduction of the National Offshore Wind Power Policy, the Government of India is attempting to replicate the major success of the onshore wind power
projects in the area of offshore wind power development.

SUMMARY
4.16 MARKET DYNAMICS

DRIVER RESTRAINT
HIGH
IMPACT
SUPPORTIVE GOVERNMENT INITIATIVES AND POLICIES TO

ADOPT RENEWABLE ENERGY
EFFORTS TO MODERNIZE THE T&D GRID
HIGH INITIAL INVESTMENT COST
LOW
IMPACT
SHORT TERM LONG TERM
SUMMARY
4.16.1 DRIVERS – SUPPORTIVE GOVERNMENT INITIATIVES AND POLICIES TO ADOPT RENEWABLE

ENERGY
GOVERNMENT INITIATIVES AND POLICIES

BACKGROUND
• The Indian government has rolled out a comprehensive framework of initiatives and policies
to boost the solar energy market. The most prominent among these is the ambitious
• Government initiatives and policies play a pivotal role in driving the power energy market in
objective of attaining 500 GW renewable energy capacity by 2030. This ambitious target
India. The Indian government has recognized the significance of transitioning to cleaner and
encompasses the installation of 280 GW of solar energy and 140 GW of wind energy, with a
sustainable energy sources to address the country's growing energy demand and
strong focus on utility-scale and rooftop solar installations. This ambitious target has driven
environmental concerns.
significant investments and growth in the renewable sector.
• A series of policy measures and incentives have been implemented to promote the adoption
• In addition to the solar mission, individual states have introduced their solar policies and
of renewable energy, which has led to a substantial increase in power-generating plant
incentives. These state-level policies create a favorable investment climate, offering
installations across the country.
subsidies, tax incentives, and land allotment for solar projects. These state initiatives
• The country has been actively transitioning toward cleaner energy generation, focusing contribute to a more decentralized solar ecosystem, providing opportunities for smaller
significantly on wind, solar, and hydroelectric power. Furthermore, as a significant number of players in the power market.
coal plants are aging, renewable generation is expected to play a vital role in fulfilling the
• For instance, in October 2023, the Government of Rajasthan released its renewable energy
increasing energy demand.
policy 2023, where the government increased the solar energy target from 30,000 MW by
• The cost of renewable power generation, mainly related to solar power, is continuously the end of 2025 to 65,000 MW of solar energy by the end of March 2030.
declining. The primary reasons include innovations in manufacturing, improvement in wind
• Through the new policy, the state government encourages the establishment of distributed
turbine materials and designs, economies of scale, and advancements in thermal energy
solar power projects, ranging from a minimum capacity of 0.5 MW to a maximum of 5 MW,
storage systems, primarily related to concentrated solar power (CSP) plants.
located within or in the vicinity of 33 kV Grid Sub-Stations, to sell electricity to DISCOMS. The
selection of the sub-stations where these decentralized solar power projects are expected to
be developed and carried out by Rajasthan Rajya Vidyut Utpadan Nigam Limited
(RUVNL)/DISCOMS.
• The pricing structure for these projects is expected to be determined through either a
competitive bidding process based on tariffs or in accordance with the guidelines set by the
State Government or the Government of India.
SUMMARY

ENERGY
• Another crucial policy factor is net metering, which allows solar energy system owners to
feed surplus power back into the grid. This not only reduces the financial burden on • The Indian government has facilitated foreign investment in the solar sector through the FDI
consumers but also promotes the adoption of solar panels, especially rooftop installations. policy, allowing up to 100% foreign direct investment under the automatic route. This has
• In 2021, the Government of India amended the net metering policy 2021. It released new attracted global players to the Indian solar market, encouraging the adoption of technologies
amendments through which new regulations were released for net-metering, gross- in solar equipment manufacturing.
metering, net-billing, or net feed-in. • For instance, in January 2023, Amazon received the necessary approval from Indian
• The latest modification encompasses the choice between net billing and gross metering for authorities to commence trading renewable energy resources within the country. Following
rooftop solar systems with a capacity exceeding 500 kW. Under the net metering acquiring a category-III energy trading license, the prominent e-commerce corporation is
arrangement, a bidirectional energy meter is installed at the point of supply. This meter actively developing a range of wind and solar energy projects in India.
calculates the energy imported from the grid and the energy exported to the grid from a • This category III license enables the company to engage in electricity trading of up to 4,000
prosumer's grid-interactive rooftop solar system at two distinct tariff rates. million units annually. Amazon has established agreements to procure a cumulative 720 MW
• By the recent amendments, net metering is expected to be available to prosumers for loads of energy in India, and it has also entered strategic partnerships with entities such as Vibrant
up to 500 kW or up to the sanctioned load, whichever is less. In comparison, loads exceeding Energy, ReNew Power Global, Amp Energy India, and Brookfield Renewable.
500 kW are expected to be subject to gross metering. • To facilitate its energy trading activities, Amazon is expected to manage all operations
• Furthermore, the amendment introduces the provision that in either the case of net through its newly established subsidiary, AEI New Energy Trading Pvt. Ltd.
metering or gross metering, the DISCOM may opt to install a solar energy meter. This meter • Furthermore, in India, the renewable energy sector is marked by diversification, with several
is used to quantify the total solar energy generated by the grid-interactive rooftop solar sources vying for attention alongside solar energy. Wind power, for instance, presents a
system, which may contribute to fulfilling renewable energy purchase obligations (RPO), if strong contender with its well-established presence and capacity to generate power even
applicable. during non-sunny periods.
• The renewable purchase obligation (RPO) mechanism, mandated by state electricity • Hydroelectric power is enduring in India's energy mix due to its consistent generation and
regulatory commissions, requires a certain percentage of electricity from renewable sources. existing infrastructure. Biomass and bioenergy resources are also being harnessed for
This policy fosters a consistent demand for solar energy, driving investments in solar electricity production.
projects.
SUMMARY

ENERGY
GOVERNMENT INITIATIVES AND POLICIES TOTAL INSTALLED CAPACITY BY SOURCE, IN %, INDIA, AS OF OCTOBER 2023
• According to the most recent evaluation conducted by the Central Electricity Authority (CEA) 0.13%
report on Optimal Generation Mix 2030 Version 2.0. an under-construction hydro capacity is 1.17%
1.76%
expected to provide approximately 14,274 MW of power from 2022 to 2030, including 2,780 2.41%
MW from pumped storage projects (PSP).
• The Ministry of New and Renewable Energy (MNRE) has indicated the possibility of achieving
a cumulative installed capacity of up to 100 GW from wind-based projects by 2029-30. It is
anticipated that renewable sources, encompassing small hydro, pumped hydro, wind, and 16.92%
biomass, will constitute 31% of the power generation mix in 2030, a substantial increase
from 12% (as of October 2023).
48.60%
• Furthermore, the levelized cost of electricity (LCOE) from wind has decreased by more than 10.41%
40% from 2019 to 2022, which is at INR 2.81 kWh in 2022 and is priced nearly 43% lower
than conventional fuels. In addition, with the advancements in technology, the life span of
wind turbines has also increased to 20-25 years and 15-18 years, respectively, making wind 11.01%
energy an attractive solution.
5.88%
• Similarly, hydroelectric power benefits from existing infrastructure, including dams and
reservoirs, which can be retrofitted to generate electricity. This infrastructure advantage can 0.14%
1.56%
make hydroelectric projects more cost-effective and easier to implement in certain regions.
Coal Lignite Gas Diesel
• Governments at various levels offer different subsidies and incentives for other renewable
sources, further influencing investment decisions. Hydro Wind Solar BM Power/Cogen
Waste to Energy Small Hydro Power Nuclear
Source: Ministry of Power, Government of India
SUMMARY

ENERGY
GOVERNMENT INITIATIVES AND POLICIES GOVERNMENT INITIATIVES AND POLICIES

• In 2022, The Government of India revised policies to stimulate increased demand for wind • In October 2021, the Ministry of New and Renewable Energy launched a loan interest
power and expedite capacity expansion in the years ahead. With the introduction of the subvention scheme in association with the United Nations International Development
Electricity (late payment surcharge and related matters) Rules in 2022, the government's Organization (UNIDO) to provide financial assistance for innovative waste-to-energy
focus is to address the issue of delayed payments, which has adversely affected the financial biomethanation projects. Industrial organic waste-to-energy biomethanation projects are
well-being of green power generators. generally capital-intensive and financially sensitive to operating costs, including waste
• The government has established the Electricity (promoting renewable energy through green availability and revenue, particularly biogas yield and its utilization scenario. Thus, such
energy open access) Rules in 2022 to promote the adoption of green power. The Draft government initiatives are expected to drive the market during the forecast period.
National Repowering Policy for Wind Power Projects, 2022, has been put forth to harness • Government authorities in India have also started offering projects as a public-private
the possibilities of repowering. partnership (PPP), secured under a long-term concession agreement. Bidding consortia can,
• The Ministry of New and Renewable Energy (MNRE) has charted out a wind-specific for instance, be technology providers, civil engineering contractors, and waste management
renewable purchase obligation (RPO) trajectory extending to 2030, featuring an annual goal companies- or other combinations.
of an 8 GW onshore wind tender every year from 2023 to 2030, structured around a single- • The Indian authorities are also trying to create a systematic policy framework and master
stage two-envelope bid system. plan to support WtE projects under the PPP project through different schemes such as DBOO
• Furthermore, the government of India has established subsidies and tax incentives for (Design, Build, Own, and Operate) and BOO (Build, Own, and Operate). As these models
various waste-to-energy plants, including incineration, gasification, fermentation, and landfill reduce the financial risk for governments while increasing economic attractiveness for
gas capture. potential investors, such measures are expected to drive the India waste-to-energy market
during the forecast period.
• For instance, in March 2022, the Ministry of New and Renewable Energy launched the
Programme on Energy from Urban, Industrial, Agricultural Wastes/Residues and Municipal • Thus, such supportive policies by the Indian government for the development of renewable
Solid Waste (“Waste to Energy Programme”), providing funds of approximately INR 5 crore energy are likely to drive the market during the forecast period.
per MW for power generation based on Municipal Solid Waste and Central Financial
Assistance in the form of back-ended subsidy for the installation of waste-to-energy projects
for recovery of power from urban, industrial, agricultural waste/residues and municipal solid
waste.
SUMMARY
4.16.1 DRIVERS – EFFORTS TO MODERNIZE THE T&D GRID
BACKGROUND EFFORTS TO MODERNIZE THE T&D GRID

• As of 2022, India is the third largest energy consumer globally and, consequently, has one of • In India, the electricity industry is experiencing a significant transition. India has established
the world's largest transmission and distribution (T&D) networks. high renewable energy goals, and several national and state-level projects are currently in
progress. The integration of large quantities of renewable energy, the reduction of delivery
• Transmission of electricity is a crucial part of the power industry, just as important as energy
costs, and the improvement of system reliability require reliable and robust transmission
production. Generating electricity is useless until it reaches the end user. The enormous
infrastructure.
quantities of energy generated by power plants are transported across vast distances by
transmission lines and towers to load centers for distribution. • In March 2023, the Ministry of Power accepted the recommendations in the Task Force
Report for developing a Future-Ready Transmission System for India. As a result, the country
• India has a significant amount of power-producing capacity. However, a significant
is expected to have a modern and smart power transmission system with features such as
proportion of its population lacks access to electricity due to a lack of suitable transmission
real-time monitoring and automated grid operation, better situational assessment, the ability
infrastructure. India urgently needs a robust electricity distribution network to achieve its
to increase the share of renewable capacity in the power mix, improved utilization of
goal of providing affordable electricity to all.
transmission capacity, enhanced resilience against cyber-attacks and natural disasters,
centralized and data-driven decision-making, and reduction of forced outages through self-
correcting systems in the coming years.
• An array of technological and digital solutions has been recommended by the task force with
the following headings as categories of modernization of existing transmission system, use of
advanced technology in construction and supervision, operations and management, Smart
and future-ready transmission system, and upskilling of the workforce.
SUMMARY
4.16.1 DRIVERS – EFFORTS TO MODERNIZE THE T&D GRID

• The task force has recommended centralized remote monitoring, operation of substations,
including SCADA, Flexible AC Transmission devices (FACTs), Dynamic Line Loading system • In October 2023, L&T Construction announced that its power transmission and distribution
(DLL), Wide Area Measurement System (WAMS) using PMUs and data analytics, Hybrid AC / business had secured key orders in India and overseas during the current quarter. The
HVDC system, predictive maintenance technique using AI/ML algorithms, HTLS conductors, business has been awarded a contract to establish 400kV and 220kV transmission lines in
process bus based protection automation and control GIS/Hybrid substation, cyber security, Chhattisgarh. This project aims to alleviate congestion in the state’s electricity transmission
energy storage system and drones and robots in construction/inspection of transmission grid.
assets.
• In June 2023, the World Bank’s Board of Executive Directors approved a loan of USD 200
• The use of robots is expected to minimize human intervention and life risks/hazards and million to the Government of Himachal Pradesh to promote power sector reforms in the
save time while ensuring accuracy during construction and maintenance. Moreover, the task state and increase the share of renewable energy in the state’s electricity generation. This is
force recommended benchmarking transmission network reliability and voltage control expected to contribute to the state’s overall aim of adding 10 GW of additional renewable
based on the performance of global transmission utilities. energy capacity to make the state’s power supply greener.
• Such supportive initiatives for developing T&D infrastructure in the country aid the power • Furthermore, the program is anticipated to strengthen the transmission and distribution
market growth in the country. network by introducing advanced technologies such as demand response management
systems and seamless access to renewable energy, which is anticipated to enable the state to
• Furthermore, in December 2022, India unveiled a USD 29.6 billion plan to construct
rely on less expensive fossil-fuel-based electricity during peak load periods. By implementing
transmission lines to connect renewable generation, aiming to triple its clean-power capacity
automated systems, citizens can enjoy a clean, reliable 24x7 power supply, reduce power
by 2030.
outages, and minimize consumer complaints.
• According to a statement by the power ministry, this project is expected to connect solar
• As India continues to pursue its energy transition goals, the modernization of the electrical
plants in Rajasthan and Gujarat with national grids and wind farms in Tamil Nadu. India
grid is expected to play a critical role in achieving a more sustainable and resilient energy
anticipated to be able to increase its interregional transmission capacity by the end of the
system. These factors are anticipated to drive the market during the forecast period.
decade from 112 gigawatts to 150 gigawatts.
• Based on recommendations from an expert committee set up by the ministry, the plan
involves 50,890 circuit km of transmission lines and 4,33,575 MVA of substation capacity.
SUMMARY
4.16.2 RESTRAINTS – HIGH INITIAL INVESTMENT COST AND LIMITED NATURAL RESOURCES
BACKGROUND
▪ The projects in the power market are capital-intensive in nature. They require effective and coordinated investment mechanisms to develop humongous projects. In addition, the long payback period of power
market projects is quite sensitive to their efficiency and performance characteristics, undermining investors’ intention to invest. Limited availability of natural resources or fuels prompts the reliance on imports,
which often reflects a costly affair and affects the sustainability of power market projects, thus leading to project closure.
HIGH INITIAL INVESTMENT COST, LONG INVESTMENT RETURN PERIOD ON PROJECTS, AND LIMITED NATURAL RESOURCES
• With the onset of the pandemic and geopolitical tensions, the power market in India witnessed disruptions in the entire value chain. For instance, the price of oil and natural gas increased due to increased
demand after the pandemic. The government of India, in October 2023, boosted by nearly 7% the price of natural gas produced from domestic fields in tune with hardening global oil and LNG rates. This move
could lead to CNG and PNG becoming costlier. The central government raised the domestic natural gas prices from USD 8.60 per metric million British thermal units (MMBTU) to US 9.20 per MMBTU, affecting
the viability of new projects to attract investments.
• For technologies such as Geothermal, the power plants require considerable capital that is often sensitive to the site. The cost of an ideal geothermal power plant ranges from about USD 1870 to USD 5050 per
kilowatt. It has been noted that binary plants are costlier than flash and natural dry steam plants. It indicates significant investments to set up a geothermal power plant in India.
• Hydropower plants are the cleanest energy source and play a vital role in the energy transition. However, it requires significant investments, a higher gestation period, a lengthy permitting process, and potential
risks from environmental impact assessments, making it unfeasible for many developers. These factors amount to significant investment risks and financing costs compared to other power generation
technologies. This discourages investors' interest and causes considerable restraint towards the growth of hydroelectric plants in the Indian power market.
• Similarly, the wind energy system requires considerable investments in setting up infrastructure coupled with approval of land area to install the same. The wind energy industry in India has significantly slowed
down in recent years because of increased tariffs, supply chain bottlenecks, declining investments, and a decrease in off-tackers. The levelized tariff of wind power reached a record low of INR 2.43 per kWh
(without any direct or indirect subsidies) during auctions for wind projects in December 2017. However, the levelized tariff increased to INR 3.17 per kWh in May 2023, and such growing tariffs deter growth in
the segment.
• Likewise, developing nuclear power plants requires high upfront capital costs, ample lead time of development, unstable operational costs, and extensive payback periods. With such factors, the cost of financing
often gets affected, impacting the cost of electricity to the end consumer. Generally, nuclear power plants are operated in a regulated electricity market that minimizes vulnerability and risks, thereby securing
investments. Consequently, it discourages investors from investing in the nuclear power market.
• In general, the cost of capital reflects how confident investors are that they will receive a return on equity and how confident debt providers are that they will be repaid. In the case of capital-intensive projects
such as renewable power generation, which require significant upfront expenses despite having relatively low operating costs, a high cost of capital has a detrimental effect on investment. The ability to identify
these perceived risks, understand which are the most critical in each country, sector, or project, and implement measures to mitigate them is essential to unlocking investment in emerging and developing
economies. Such a scenario would affect the power market’s growth.
• Henceforth, factors such as inflation, development lead times, approval processes, operational costs, geopolitical tensions, and component costs such as turbines majorly affect the investment cost of power
plants and the availability of natural resources, thereby affecting the development of an efficient power market.

SUMMARY
4.17 SUPPLY CHAIN ANALYSIS
Raw Material and End Use

Component Suppliers Technology Providers Project Developers Utilities Applicatio
CORE ns
SUPPLY
Aluminum, steel, copper, cast iron, PV Steam turbines, gas turbines, nuclear Power generating,
CHAIN cell, insulating material (polyethylene), reactors, solar panel, wind turbines,
Power EPC Companies/Developers Residential, Commercial And
transmission & Industrial
solar PV mounting systems, bearings, transformers, power cables, and other power distribution
carbon fiber, fiberglass, etc. equipment providers companies
SUMMARY

Raw Material and Project Developers
Technology Providers
CORE SUPPLY Component Suppliers
CHAIN
Aluminum, steel, copper, cast iron, PV Steam turbines, gas turbines, nuclear Power EPC Companies/Developers
cell, insulating material (polyethylene), reactors, solar panel, wind turbines,
solar PV mounting systems, bearings, transformers, power cables, and other
carbon fiber, fiberglass, etc. power equipment providers
ELEMENTS
OF THE
SUPPLY
CHAIN AND
COMPANIES
INVOLVED
Note: Continued on the next slide
SUMMARY
Utilities End Use Applications

CORE SUPPLY
CHAIN
Power Generation, Transmission &
Residential, Commercial And Industrial
distribution companies
ELEMENTS
OF THE
SUPPLY
CHAIN AND
COMPANIES
INVOLVED
SUMMARY
4.18 PESTLE ANALYSIS
SUMMARY

Political Stability: The Indian political system is a federal parliamentary democratic republic with a unique and complex structure. It operates as a parliamentary democracy where the
President is the nominal head of the state, and the prime minister holds the absolute executive authority accountable to the Lok Sabha (House of the People). India’s federal structure
comprises 28 states and eight union territories, each with its government and regulations. The bicameral legislature, consisting of the directly elected Lok Sabha and indirectly elected Rajya
Sabha, ensures representation from the people and the state. Universal adult franchise empowers Indian citizens over 18 years of age to vote, solidifying its position as one of the world’s
largest democracies. A vibrant party system, an independent judiciary system led by the Supreme Court, and secularism characterize the political landscape.
India’s election process, including general elections every five years, is a massive logistical operation. Affirmative action policies strive to uplift underrepresented groups, making the Indian
POLITICAL political system a dynamic and evolving framework. The political system in India exhibits stability and strong social connections, with many parties representing specific interests both
nationally and at the state level. Various social groups maintain enduring affiliations with political parties. In the last general election in 2019, the ruling party secured an outright majority in
the lower house of the parliament, which has further diminished the significance of coalition politics, further strengthening the country’s political stability by reducing the ideological
Political differences that can occur potentially in coalition government. Thus creating a conducive environment for expanding and developing the market under consideration.
Stability
Investment Attractiveness: India’s investment attractiveness has risen in recent years, fuelled by its status as one of the world's largest and fastest-growing economies. As a global
economic powerhouse, India offers vast market opportunities for investors across various sectors. The country's immense population with a burgeoning middle class presents a massive
consumer base driving demand for goods and services. The potential for market expansion has made India an attractive destination for businesses looking to tap into its past consumer
Investment market and capitalize on its economic growth. According to a census conducted by the Reserve Bank of India (RBI) in September 2023, for the fiscal year 2023 (FY23), the United States has
emerged as the primary source of foreign direct investment (FDI) in India. The data also disclosed that Mauritius, the United Kingdom, and Singapore, in that order, collectively accounted for
Attractiveness
60% of the total FDI inflow into India.
Regarding market value, the FDI reached INR 50 trillion in FY23. Specifically, the United States contributed INR 8.58 trillion (USD 103 billion) in FDI during FY23, marking an increase from INR
8.05 trillion in the preceding fiscal year, representing a 17.2 % share of the overall FDI. Meanwhile, FDI from Mauritius amounted to INR 7.43 trillion (in comparison to INR 7.79 trillion in
FY22), constituting a 14.9 % share, and the United Kingdom contributed INR 7.08 trillion (as opposed to INR 5.83 trillion in FY22). Additionally, under the National Infrastructure Pipeline 2019-
25, India is likely to have an investment of around INR 111000 billion to promote renewable energy and electrification in rural places through schemes like Deen Dayal Upadhyay Gram Jyoti
Yojana (DDUGJY).
Corruption Level Moreover, India has been actively improving its business environment and attracting foreign investment. The government has implemented various measures to reduce bureaucracy,
streamline the regulatory process, and promote a more investor-friendly environment. Initiatives like the Green Term Ahead Market (GTAM) have further increased India’s appeal to foster
economic cooperation and connectivity with other countries. This is expected to increase the investment attractiveness in the country’s power sector.
Corruption Level: India scored 40 out of 100 and ranked as the 85th least corrupt country out of 180 countries in the 2022 Corruption Perception Index (CPI), indicating that the country
has significant corruption cases. The Central Vigilance Commission continues to investigate and prosecute high-profile corruption cases, and investors still cite corruption as an obstacle to
pursuing opportunities in India. However, the government issued detailed directions on combating bribery in targeted ministries and agencies. Streamlined National Anti-corruption Strategy
mandates corruption prevention efforts across the government in focus areas. Thus, the corruption level is expected to be reduced during the forecast period. This reduction in corruption is
expected to create transparency in the power market with increasing investments in the upcoming years.
SUMMARY
Economic Growth: As per the World Bank, India’s GDP in 2022 was around USD 3.39 trillion, an increase of 7.61% compared to 2021. India’s economy is majorly dependent on the
manufacturing, service, and agriculture sectors, where the service sector contributed over 50% to GDP in 2022. The growth in the micro, small, and medium enterprises (MSME)
sector was high. While in the past years, the slowdown in the manufacturing sector, higher import costs, and the global financial crisis negatively impacted the GDP. Exports have
also fallen sharply as international trade was affected by the pandemic in 2020. By the end of 2023, India is expected to reach the USD 3.6 trillion milestone, and the economy is
expected to rise to around USD 5.9 trillion by 2028. Since the country’s economic development is on a growth trajectory, electricity demand will also surge from the commercial,
ECONOMIC domestic, and industrial sectors in the future.
Economic GDP in USD trillion, India, 2001-2022 3.39

2.65 2.70 2.84 2.67 3.15
1.71 1.82 1.83 1.86 2.04 2.10 2.29
Growth 0.49 0.52 0.62 0.72 0.83 0.95 1.24 1.22 1.37
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Source: The World Bank Group
Inflation Rate and Currency Strength: India’s inflation rate for 2018, 2019, 2020, 2021, and 2022 was 3.4%, 4.8%, 6.2%, 5.5%, and 6.7%, respectively. Though the inflation rate was
Inflation high in 2013, it plummeted after that, except during the pandemic. However, the foreign exchange rate is relatively high when measured against major currencies. As of November
Rate and Currency 27, 2023, the average currency exchange rate is 1 USD to INR 83.42, 1 EUR to INR 91.32, and 1 CNY to INR 11.93. Due to the high exchange rate, there has been a significant rise in
Strength the power industry's raw material and components costs, which are majorly imported from countries like China, the United States, Germany, and the United Kingdom.
Inflation Rate, India, 2005-2022
9.1% 12.3% 10.5% 9.5% 10.0% 9.4%

4.4% 6.7% 6.2% 5.8% 4.9% 4.5% 3.6% 3.4% 4.8% 6.2% 5.5% 6.7%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Source: International Monetary Fund (IMF)
SUMMARY

Social Stability: According to the United Nations Development Programme (UNDP), India’s human development index value was 0.633 in 2021, which places the country in
the medium human development category, positioning it at 132 out of 191 countries and territories. Between 1990 and 2021, India’s HDI value changed from 0.434 to
0.633, a change of 45.9%. Similarly, India’s life expectancy at birth changed by 8.5 years; in the same period, the mean years of schooling changed by 2.9 years. India’s GNI
per capita changed by about 268.1% between 1990 and 2021. As per the United Nations, around 415 million people were moved out of poverty in India during FY 2005-06
and FY 2019-20. Such a scenario indicates a reduction in poverty level in recent years.
In 2022, as per the National Survey of India (NSI), India had a literacy rate of 77.70%, while in 2011, it was 72.99%. The improvement in the literacy rate is attributed to the
SOCIAL education initiatives rolled out by the government. The progress on the social stability front could benefit the expansion of the power sectors like renewable by allowing a
skilled workforce with a technical mindset and capabilities to run the business.
Social
Stability Population Growth: According to the United Nations, in 2022, the population of India was around 1.4 billion, a
13% increase from 2011. The country has witnessed a rise in population since 2011, placing it among the
countries with the largest population. Additionally, about half of the country's population is under 30, and only Population of India, in Billion, 2010-2022
12% is above 65 years, indicating many young people in the country. Hence, the young population and the
increasing birth rate are expected to positively impact the human resources needed to develop solar energy
1.42
1.41
Population projects in India.
1.40
Growth
1.38
1.37
Employment: In 2022, the employment rate in India reached approximately 44.5%; the unemployment rate in
1.35
1.34
2022 was 7.33%, while in 2020, it was 8%, owing to the onset of the pandemic. The Ministry of Labour &
1.32
Employment in India rolled out various policy measures and schemes or initiatives to ramp up employment
1.31
opportunities in the country.
1.29
1.27
India’s energy sector is crucial to the country's economic development. It is expected that the increase in demand
1.26
Employment for electricity in the country will scale up the renewable energy infrastructure in the upcoming years. For
1.24
instance, in July 2023, the Gujarat Urja Vikas Nigam (GUVNL), an Indian electric utility company, unveiled its
intention to invite proposals for the development of two solar projects, each with a capacity of 600MW, within
the Khavda renewables park.
Furthermore, the second 600MW project is accessible through a "greenshoe" mechanism, meaning that GUVNL 2010201120122013201420152016201720182019202020212022
initially intends to solicit bids for a single 600MW facility but may open the possibility for a second project if there
is substantial demand for the first. Hence, such a scenario is expected to create job opportunities in the country's
power sector.
Source: Mordor Intelligence Source: United Nations - World Population Prospects
SUMMARY

R&D Activity: In India, research and development in the power sector is primarily overseen by several organizations and government bodies. The National Thermal
Power Corporation (NTPC) is the largest power company in India, with its presence in fossil fuel, renewable, nuclear, and hydro energy. As a leading company, the
organization has a research and development infrastructure that helps tackle issues like the breakdown or failure of a power plant. Moreover, the R&D department
collaborates with leading institutes, technology players, and service providers to increase efficiency and reliability and reduce emissions. For instance, in November 2022,
NTPC and the National Centre of Excellence in Carbon Capture & Utilization (IIT Bombay) launched the assessment of ‘CO2 Geological Storage Potential’ in India. Such an
TECHNOLOGY initiative is expected to help the country reduce carbon emissions and achieve a net-zero emission target by 2070.
NLC India Limited also has its in-house R&D Centre, the Centre for Applied Research & Development (CARD). The objective of the R&D facility is to develop innovation in
Research and thermal power plants, monitor pollution, and test quality control for various energy infrastructures. Additionally, under the Ministry of Power, the Central Power Research
Development Institute (CPRI) was established in 1960 to apply research in electrical power engineering to support product development and quality assurance.
(R&D) Activity In the renewable power sector, the Ministry of New and Renewable Energy (MNRE) is a crucial government department responsible for formulating and implementing
policies and programs related to renewable energy, including solar power. MNRE collaborates with various research and development institutions, such as the Solar
Energy Corporation of India (SECI) and the National Institute of Solar Energy (NISE), to promote the advancement and innovation of solar technologies. In June 2023, the
Ministry of New and Renewable Energy launched the Mission on Advanced and High-Impact Research (MAHIR), where the government promoted extensive research and
Technology
developmental activity for renewable energy sources and related equipment for power sources like solar, wind, biomass, and others. Although the funds allocated were
Incentive revealed, the program is planned for an initial period of five years from 2023-24 to 2027-28; the Mission will follow the technology life cycle approach of Idea to Product.
Technology Incentive: The Indian government provides various technological incentives, especially for renewable sectors. Moreover, different independent policies are
also offered by the states of India to promote research and development activities related to the solar industry in the country. For instance, in March 2023, the
Government of India launched its production-linked incentive steam as part of the national program for high-efficiency solar photovoltaic modules. This initiative aims to
establish a significant domestic manufacturing capacity for high-efficiency solar photovoltaic modules at a gigawatt scale with a budget of INR 240 billion allocated. The
scheme includes provisions for granting production-linked incentives to eligible solar photovoltaic module manufacturers for five years after the commissioning
specifically for the production and scale of high-efficiency solar PV modules.
Apart from solar, the Indian government has various incentives for developing the wind and bioenergy industry. For instance, the Indian government exempted customs
duty on specific components required for manufacturing wind energy generators and raw materials for wind turbine blade manufacturing. Regarding bioenergy, the
government provides financial assistance of INR 9 lakh per MTPH (metric tons per hour).
SUMMARY

Tax Structure: The Ministry of Finance, India (MoF) is responsible for formulating and implementing fiscal for the effective and efficient management of tax revenues and policies
linked to expenditure in India. It also administers union budget, financial institutions, capital markets, government investments, and disinvestments through nodal departments
such as the Department of Expenditure, Department of Economic Affairs, Department of Revenue, Department of Financial Services, Department of Investment & Public Asset
Management, and Department of Public Enterprises. Further, statutory bodies such as the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes & Customs
(CBIC) supervise direct and indirect union taxes in India.
India’s tax structure is divided into two major parts, i.e., direct tax and indirect tax. Direct tax includes corporate tax, capital gains tax, and income tax, which gives approximately
LEGAL fifty percent of the Indian government’s revenue. The indirect tax includes Goods & Services Tax (GST).
Corporate Tax Slabs for Domestic Company for

Tax Condition
AY 2023-24 (excluding surcharge and cess)
Structure
Total Turnover or Gross Receipts during the previous year 2020-21 does not exceed ₹ 400 crores 25%
If opted for Section 115BA 25%
Taxation If opted for Section 115BAA 22%
If opted for Section 115BAB 15%
Any other Domestic Company 30%
Condition Income Tax Rate (excluding surcharge and cess)
Total Turnover or Gross Receipts during the previous year 2020-21 does not exceed ₹ 400 crores 25%
If opted for Section 115BA 25%
Taxation: In India, companies participating in power equipment manufacturing and generation are levied with several taxes. For instance, power generating, distribution, and
project developers are subjected to corporate tax based on their annual income. At the same time, GST is levied on the various components used to construct power infrastructure.
For instance, a GST of around 18% is charged on transformers with a capacity of 250 kVA, while a transformer with a total of 750 kVA would be subject to a 28% GST rate.
With several taxes, the Indian government, in April 2023, asked the state government to scrap taxes like water cess on power generation from thermal, hydro, wind, solar, and
Source: Mordor Intelligence nuclear. Such an initiative would have a positive impact on the power industry.
SUMMARY
Environment Laws: The Ministry of Environment, Forest and Climate Change (MoEFCC) is responsible for protecting India’s environment and plans, as well as promoting,
coordinating, and supervising the enforcement of environmental laws, policies, and programs.
The MoEFCC’s broad objectives include protecting the environment, preventing and controlling pollution, and conserving flora, fauna, forests, and wildlife. Some of the
critical environmental laws and acts consist of The Wildlife (Protection) Act of 1972, The Water (Prevention and Control of Pollution) Act of 1974, the Environment
ENVIRONMENT (Protection) Act of 1986, The National Conservation Strategy and Policy Statement on Environment and Development 1992, National Environment Policy 2006, National
Forest Policy 1988, Policy Statement on Abatement of Pollution 1992, The Energy Conservation Act 2001, The National Green Tribunal Act 2010.
In India, other authorities such as the Central Pollution Control Board (CPCB) and the State Pollution Control Boards (SPCBs) focus on the Comprehensive Environmental
Environment Law Pollution Index (CEPI) at the direction of the National Green Tribunal (NGT), which also empowers the transportation sector to use environment-friendly and low-carbon
emissions such as CNG.
As India has always been a front-runner in emitting carbon emissions globally, factors such as access to clean energy and environmental pay-offs upon using renewable
energy in the domestic households and commercial and industrial segments would help significantly reduce carbon emissions in India.
Pollution Level
Pollution Level: The high pollution levels and global warming caused by pollution have forced the government to invest in becoming green to create a cleaner
environment. The country’s primary sources of air pollution are heavy industrial production activities, coal-fired power plants, and vehicular emissions. In 2022, India’s
government announced that it had pledged to become a carbon-neutral country by 2070. It is expected that the country will start deploying renewable energy sources.
Since the manufacturing industry is the primary source of income, renewable energy will be installed to control carbon emissions from the manufacturing industry through
its electricity generation.
As of 27 November 2023, India’s average air quality index is around 133, considered an unhealthy air environment for humans. India is ranked as the 8th most polluted
country in the world regarding the air quality index. However, states like Mizoram and Nagaland have healthy air index quality of 19 and 21, respectively, but most cities
suffer from inferior air quality. The announcement of carbon emission reduction targets is expected to create more stringent rules for maintaining a healthy air quality
index in the country. This is expected to increase the deployment of renewable energy, such as solar and wind, during the forecast period, which will drive the power
market in the upcoming years.
5 MARKET SEGMENTATION
5.1 By Power Generation
5.1.1 Thermal
5.1.2 Hydro
5.1.3 Renewables
5.1.4 Other Power Generations (Nuclear)
5.2 Power Transmission and Distribution (T&D) Network
#TOC_DIVIDER#
SUMMARY
5.1 BY POWER GENERATION

POWER MARKET, CAPACITY AND DEMAND FORECAST IN GW, BY POWER GENERATION, POWER MARKET, CAPACITY SHARE (%), BY POWER GENERATION, INDIA, 2019-2028
INDIA, 2019-2028
CAGR (2023-2028): 4.14%
6.78 6.78 6.78 6.78 6.78 15.48 2.00% 2.00% 3.00%

77.64 87.03 21.00%
94.43 109.89 125.16 30.00%
202.11 40.00%
45.4 13.00%
45.7 46.21 46.72 11.00%
46.85
50.87 10.00%
226.28 230.6 234.73 64.00% 57.00%

236.11 237.27 47.00%
241.09
2018-19 (a) 2019-20 (a) 2020-21 (a) 2021-22 (a) 2022-23 (a) 2027-28 (f) 2018-19 (a) 2022-23 (a) 2027-28 (f)
Thermal Hydro Renewables Nuclear Thermal Hydro RES Nuclear
CAGR (FY2022-23-
Year 2018-19 (a) 2019-20 (a) 2020-21 (a) 2021-22 (a) 2027-28 (f)
FY2027-28)
Thermal 226.28 230.60 234.73 236.11 241.09 0.32%
Hydro 45.40 45.70 46.21 46.72 50.87 1.66%
RES 77.64 87.03 94.43 109.89 202.11 10.06%
Nuclear 6.78 6.78 6.78 6.78 15.48 17.95%
Total 356.10 370.11 382.15 399.50 509.55 4.14%
SUMMARY
5.1.1 THERMAL
POWER MARKET, INSTALLED CAPACITY AND FORECAST IN GW, THERMAL, INDIA, 2019-2028
CAGR (FY2022-23 TO FY2027-28): 0.32%
241.09
240.54
239.88
239.11
238.24
237.27
236.11
234.73
230.60
226.28
2018-19 (a) 2019-20 (a) 2020-21 (a) 2021-22 (a) 2022-23 (a) 2023-24 (e) 2024-25 (f) 2025-26 (f) 2026-27 (f) 2027-28 (f)
SUMMARY
5.1.1 THERMAL
BACKGROUND MARKET OVERVIEW

• According to the Central Electricity Authority statistics, as of October 2023, India had a total
• India's thermal energy sector has a rich history dating back to the mid-20th century, wherein thermal installed capacity of 239.07 GW, of which 206.82 is the installed capacity of coal and
coal-based power plants were strategically established to meet the country's rising energy the rest is from lithium, diesel, and gas. The private sector in the power industry in India
demands. Today, thermal energy, primarily from coal-fired power plants, continues to be the generates 51.2% of the country’s power, whereas the states and the center generate 25%
foundation of India's power generation landscape. However, the sector transforms as the and 24%, respectively.
nation diversifies its energy sources, incorporating renewables and cleaner technologies.
• As of April 2023, India boasts over 60 gas-based power plants with a cumulative capacity of
• India is the world's third largest power generation market, after China and the United States. approximately 25 GW, constituting slightly over 6% of the nation's total installed power
The electricity sector in India is growing at a rapid pace. While coal remains a major player, generation capacity. The government aims to increase this share to 15%. Notably, 28 gas-
there is a discernible shift towards cleaner technologies. Trends indicate an increasing focus based plants with a combined capacity of around 10 GW reported zero generation in FY23,
on supercritical and ultra-supercritical technologies to enhance efficiency and reduce contributing to an overall plant load factor (PLF) of gas-based power plants that remained
emissions. Moreover, Integrated Gasification Combined Cycle (IGCC) and Carbon Capture below 15%. This subdued performance is attributed to challenges such as the scarcity of
and Storage (CCS) technologies are emerging as potential solutions to address environmental domestic gas and the elevated cost of imported gas.
concerns.
• As of August 2023, NTPC held 6,511 MW of a gas-based power capacity, securing gas supply
through an arrangement with Gas Authority of India Limited (GAIL). In alignment with
directives from the Ministry of Power, NTPC is mandated to operate 5,000 MW from its gas-
based power stations during periods of energy crunch. Simultaneously, its subsidiary, NTPC
Vidyut Vyapar Nigam Ltd, will procure an additional 4,000 MW of gas power from other
state-run plants.
• The drivers for change in India's thermal energy sector are diverse, encompassing
environmental considerations, global commitments to carbon reduction, and the imperative
for energy security. Opportunities lie in developing advanced technologies, infrastructure
upgrades, and collaborations with international entities to bring expertise for cleaner energy
solutions.
SUMMARY
5.1.1 THERMAL
MARKET OVERVIEW
• The sector faces challenges, including the historical reliance on coal, issues related to land
acquisition, environmental impact concerns, and questions about resource sustainability.
Economic considerations and the need for substantial investments to modernize existing
facilities further compound these challenges.
• However, the government of India in January 2023 directed utilities in the country not to
retire any coal power plants till 2030, given the increasing energy demand. Also, in October
2023, the Ministry of Power announced that India plans to add at least 80 GW of Coal by
2031-32. According to the Ministry of Power, India, 27 GW of the new capacity is already
under construction as of October 2023, and there is an initiative to develop an additional 55
to 60 GW.
• Major players in India's thermal energy landscape, from the public and private sectors, such
as NTPC, Adani Power, and Tata Power, actively contribute to the sector's development.
These entities play pivotal roles in power generation, innovation, and the adoption of
cleaner technologies.
• In conclusion, India's thermal energy sector stands at a critical juncture, navigating the
complex interplay of economic growth, environmental sustainability, and energy security.
The historical reliance on coal is transforming due to emerging trends, technological
advancements, and global imperatives for cleaner energy. As the nation seeks to balance
energy needs with environmental responsibility, the thermal energy sector is on the brink of
transformative changes, presenting challenges and opportunities in pursuing a sustainable
energy future.
SUMMARY
5.1.1 THERMAL
THERMAL ENERGY INSTALLED CAPACITY - BY REGION/STATE/UNION TERRITORY, AS OF OCTOBER 2023, INDIA
REGION/STATE/UNION TERRITORY INSTALLED CAPACITY IN MW
Delhi 2208.400
Haryana 3830.000
Jammu & Kashmir 175.000
Punjab 5680.000
Rajasthan 10833.500
Uttar Pradesh 12845.000
Uttarakhand 450.000
Chhattisgarh 16008.000
Gujarat 22329.820
Madhya Pradesh 14270.000
Maharashtra 21456.000
Goa 48.000
Andhra Pradesh 15325.344
Telangana 5242.500
Karnataka 7105.200
Kerala 333.960
SUMMARY
5.1.1 THERMAL
THERMAL ENERGY INSTALLED CAPACITY BY REGION./STATE/UNION TERRITORY, AS OF OCTOBER 2023, INDIA
Puducherry 32.500
Tamil Nadu 9033.881
Lakshadweep 26.830
A & N Islands 92.710
Jharkhand 2250.000
Odisha 4940.000
West Bengal 6927.000
SUMMARY
5.1.1 THERMAL
LIST OF KEY THERMAL POWER STATIONS – CENTRAL SECTOR
Installed
Region/State/UT Owner Name of Project Prime Mover Unit No. Year of Commissioning
Capacity (MW)
Haryana NTPC INDIRA GANDHI STPP Steam 1 500.000 2010
Rajasthan NLC BARSINGSAR LIGNITE Steam 1 125.000 2010
Uttar Pardesh MUNPL MEJA STPP Steam 1 660.000 2018
Chhattisgarhi NTPC SIPAT STPS Steam 1 660.000 2011
Chhattisgarhi NTPC LARA TPP Steam 1 800.000 2018
Madhya Pradesh NTPC KHARGONE STPP Steam 1 660.000 2019
Madhya Pradesh NTPC GADARWARA TPP Steam 1 800.000 2019
Maharashtra NTPC MAUDA TPS Steam 1 500.000 2012
Maharashtra NTPC SOLAPUR STPS Steam 1 660.000 2017
Karnataka NTPC KUDGI STPP Steam 1 800.000 2016
Tamil Nadu NLC NEYVELI TPS-II EXP Steam 1 250.000 2012
Tamil Nadu NLC NEYVELI NEW TPP Steam 1 500.000 2019
Tamil Nadu NTECL VALLUR TPP Steam 1 500.000 2012
Tamil Nadu NTPL TUTICORIN (JV) TPP Steam 1 500.000 2015
SUMMARY
5.1.1 THERMAL
LIST OF KEY THERMAL POWER STATIONS – CENTRAL SECTOR
Installed
Region/State/UT Owner Name of Project Prime Mover Unit No. Capacity Year of Comm.
(MW)
Bihar NTPC BARH I STPP Steam 1 660.000 2021
Bihar NTPC BARH II STPP Steam 4 660.000 2013
Bihar KBUNL MUZAFFARPUR TPS Steam 3 195.000 2015
Bihar BRBCL NABI NAGAR TPP Steam 1 250.000 2016
Bihar NPGCL NABINAGAR STPP Steam 1 660.000 2019
Jharkhand DVC KODARMA TPP Steam 1 500.000 2011
Jharkhand DVC BOKARO `A` TPS Steam 1 500.000 2016
Jharkhand NTPC NORTH KARANPURA STPP Steam 1 660.000 2023
Odisha NTPC DARLIPALI STPS Steam 1 800.000 2019
West Bengal DVC DURGAPUR STEEL TPS Steam 1 500.000 2011
West Bengal DVC RAGHUNATHPUR TPP Steam 1 600.000 2014
SUMMARY
5.1.1 THERMAL
LIST OF KEY THERMAL POWER STATIONS – STATE SECTOR
Installed
(MW)
Delhi PPCL PRAGATI CCGT-III GT-Gas 1 250.000 2010
Haryana HPGCL RAJIV GANDHI TPS Steam 1 600.000 2010
Rajasthan RRVUNL KALISINDH TPS Steam 1 600.000 2014
Chhattisgarh CSPGCL MARWA TPS Steam 1 500.000 2014
Gujarat GSECL SIKKA REP. TPS Steam 3 250.000 2015
Gujarat Bhavnagar Energy Co. Ltd BHAVNAGAR CFBC TPP Steam 1 250.000 2016
Gujarat GSEGL HAZIRA CCPP EXT GT-Gas 1 351.000 2012
Gujarat GPPCL PIPAVAV CCPP GT-Gas 1 351.000 2014
Madhya Pradesh MPPGCL SHRI SINGHAJI TPP Steam 1 600.000 2013
Andhra Pradesh APPDCL DAMODARAM SANJEEVAIAH TPS Steam 1 800.000 2014
Telangana TSGENCO KOTHAGUDEM TPS (STAGE-7) Steam 12 800.000 2018

Telangana TSGENCO KAKATIYA TPS Steam 1 500.000 2010
Telangana Singareni Collieries Co. Ltd SINGARENI TPP Steam 1 600.000 2016
Telangana TSGENCO BHADRADRI TPP Steam 1 270.000 2020
Karnataka Raichur Power Corp. Ltd YERMARUS TPP Steam 1 800.000 2016
Tamil Nadu TANGEDCO METTUR TPS-II Steam 1 600.000 2012
Lakshadweep Lakshadweep ELECTRICITY DEPARTMELAKSHADWEEP DG - Diesel 1 26.830 2022
SUMMARY
5.1.1 THERMAL
LIST OF KEY THERMAL POWER STATIONS – PRIVATE SECTOR
Installed
(MW)
Delhi TPDDL RITHALA CCPP GT-Gas 1 35.750 2010
Haryana JHAJJAR POWER LTD. MAHATMA GANDHI TPS Steam 1 660.000 2012
Punjab Nabha Power Ltd RAJPURA TPP Steam 1 700.000 2014
Punjab Talwandi Sabo Power Ltd TALWANDI SABO TPP Steam 1 660.000 2014
Punjab GPGSL (GVK) GOINDWAL SAHIB TPP Steam 1 270.000 2016
Rajasthan Adani Power Ltd KAWAI TPS Steam 1 660.000 2013
Uttar Pardesh BEPL KHAMBARKHERA TPS Steam 1 45.000 2011
Uttar Pardesh BEPL MAQSOODPUR TPS Steam 1 45.000 2011
Uttar Pardesh BEPL BARKHERA TPS Steam 1 45.000 2011
Uttar Pardesh BEPL UTRAULA TPS Steam 1 45.000 2012
Uttar Pardesh BEPL KUNDARKI TPS Steam 1 45.000 2012
Uttar Pardesh LAPPL ANPARA C TPS Steam 1 600.000 2011
Uttar Pardesh RPSCL ROSA TPP Ph-I Steam 1 300.000 2010
Uttar Pardesh LPGCL LALITPUR TPS Steam 1 660.000 2016
Uttar Pardesh PPGCL (Jaypee) PRAYAGRAJ TPP Steam 1 660.000 2015
Uttarakhand Gama Infraprop Pvt. Ltd. GAMA CCPP Steam 1 225.000 2016
Uttarakhand Sravanthi Energy Pvt. Ltd. KASHIPUR CCPP Steam 1 225.000 2016
SUMMARY
5.1.1 THERMAL
Installed
(MW)
Chhattisgarh Vandana Energy & Steel Pvt Ltd KATGHORA TPP Steam 1 35.000 2012
Chhattisgarh ACB (India) Ltd KASAIPALLI TPP Steam 1 135.000 2011
Chhattisgarh ACB (India) Ltd CHAKABURA TPP Steam 2 30.000 2014
Chhattisgarh Jindal Power Limited TAMNAR TPP Steam 1 600.000 2014
Chhattisgarh Spectrum Coal and Power Ltd RATIJA TPS Steam 1 50.000 2013
Chhattisgarh S V Power Private Limited SVPL TPP Steam 1 63.000 2011
Chhattisgarh Wardha Power Co Ltd AKALTARA TPS Steam 2 600.000 2018
Chhattisgarh Korba West Power Co Ltd AVANTHA BHANDAR Steam 1 600.000 2014
Chhattisgarh DB Power Corp. Ltd BARADARHA TPS Steam 1 600.000 2014
Chhattisgarh GMR Chhattisgarh Energy Ltd RAIKHEDA TPP Steam 1 685.000 2015
Chhattisgarh Vandana Vidhyut Ltd SALORA TPP Steam 1 135.000 2015
Chhattisgarh ACB (India) Ltd SWASTIK KORBA TPP Steam 1 25.000 2015
Chhattisgarh RKM Powergen Pvt Ltd UCHPINDA TPP Steam 1 360.000 2015
Chhattisgarh Maruti Clean Coal & Power Ltd BANDAKHAR TPP Steam 1 300.000 2015
Chhattisgarh Bharat Aluminium Co Ltd BALCO TPS Steam 1 300.000 2015
Chhattisgarh TRN Energy Private Limited NAWAPARA TPP Steam 1 300.000 2016
Chhattisgarh SKS Power Generation Ltd BINJKOTE TPP Steam 1 300.000 2017
SUMMARY
5.1.1 THERMAL
Installed
(MW)
Gujarat Torrent Power Ltd UNOSUGEN CCPP GT-Gas 1 382.500 2013
Gujarat Essar Power Gujarat Ltd SALAYA TPP Steam 1 600.000 2012
Gujarat Coastal Gujarat Power Ltd MUNDRA UMTPP Steam 1 800.000 2012
Gujarat Torrent Power Ltd DGEN MEGA CCPP GT-Gas 1 400.000 2014
Madhya Pradesh Essar Power MP Ltd MAHAN TPP Steam 1 600.000 2013
Madhya Pradesh Jaipraksh Power Venture Ltd BINA TPS Steam 1 250.000 2012
Madhya Pradesh BLA Power Pvt Ltd NIWARI TPP Steam 1 45.000 2013
Madhya Pradesh Sasan Power Ltd SASAN UMTPP Steam 1 660.000 2013
Madhya Pradesh Jaipraksh Power Venture Ltd NIGRI TPP Steam 1 660.000 2014
Madhya Pradesh MB Power Madhya Pradesh Ltd ANUPPUR TPP Steam 1 600.000 2015
Madhya Pradesh Jhabua Power Ltd SEIONI TPP Steam 1 600.000 2016
Maharashtra Sinnar Thermal Power Ltd NASIK (P) TPS Steam 1 270.000 2014
Maharashtra GMR Energy Ltd GMR WARORA TPS Steam 1 300.000 2013
Maharashtra Adani Power Ltd TIRORA TPS Steam 1 660.000 2012
Maharashtra Gupta Energy Pvt Ltd GEPL TPP Ph-I Steam 1 60.000 2012
Maharashtra Vidarbha Industries Power Ltd BUTIBORI TPP Steam 1 300.000 2012
Maharashtra Ideal Energy Projects Ltd BELA TPS Steam 1 270.000 2013
Maharashtra Rattan India Power Ltd AMARAVATI TPS Steam 1 270.000 2013
Maharashtra JSW Energy Ltd JSW RATNAGIRI TPP Steam 1 300.000 2010
Maharashtra Abhijeet MADC Nagpur EPL MIHAN TPS Steam 1 246.000 2012
Maharashtra Wardha Power Co. Ltd WARDHA WARORA TPP Steam 1 135.000 2010
Maharashtra Dhariwal Infrastructure Pvt Ltd DHARIWAL TPP Steam 1 300.000 2013
Maharashtra Shirpur Power Pvt Ltd SHIRPUR TPP Steam 1 150.000 2017
Maharashtra Pioneer Gas Power Ltd MANGAON CCPP GT-Gas 1 388.000 2016
SUMMARY
5.1.1 THERMAL
Installed
(MW)
Andhra Pradesh Simhapuri Energy Pvt Ltd SIMHAPURI TPS Steam 1 150.000 2012
Andhra Pradesh Minakshi Energy Ltd THAMMINAPATNAM TPS Steam 1 150.000 2012
Andhra Pradesh Sembcorp Energy India Ltd PAINAMPURAM TPP Steam 1 660.000 2015
Andhra Pradesh HNPC VIZAG TPP Steam 1 520.000 2015
Andhra Pradesh Sembcorp Energy India Ltd SGPL TPP Steam 1 660.000 2016
Andhra Pradesh Lanco Kondapalli Power Pvt Ltd KONDAPALLI ST-3 CCPP GT-Gas 1 371.000 2015
Andhra Pradesh APGPCL VIJJESWARAM CCPP GT-Gas 1 33.000 2012
Andhra Pradesh GMR Rajahmundry Energy Ltd GREL CCPP (Rajahmundry) GT-Gas 1 384.000 2015
Karnataka Udupi Power Corp. Ltd UDUPI TPP Steam 1 600.000 2010
Tamil Nadu Ind Barath Power infra Ltd TUTICORIN (P) TPP Steam 1 150.000 2013
Tamil Nadu Coastal Energen Pvt Ltd MUTHIARA TPP Steam 1 600.000 2015
Tamil Nadu IL&FS Tamil Nadu Power Co. Ltd ITPCL TPP Steam 1 600.000 2015
Tamil Nadu SEPC Power Pvt Ltd TUTICORIN TPP ST-IV Steam 1 525.000 2021
Jharkhand Adhunik Power & Natural Resource Ltd MAHADEV PRASAD STPP Steam 1 270.000 2012
Jharkhand Maithon Power Ltd MAITHON RB TPP Steam 1 525.000 2011
Odisha VEDANTA VEDANTA TPP Steam 2 600.000 2010
Odisha GMR Energy Ltd KAMALANGA TPS Steam 1 350.000 2013
Odisha JITPL DERANG TPP Steam 1 600.000 2014
Odisha IBPIL UTKAL TPP (IND BARATH) Steam 1 350.000 2016
West Bengal Haldia Energy Ltd HALDIA TPP Steam 1 300.000 2015
West Bengal Hiranmaye Energy Ltd HIRANMAYE TPP Steam 1 150.000 2017
West Bengal DPSCLTD DISHERGARH TPP Steam 1 12.000 2019
SUMMARY
5.1.1 THERMAL
THERMAL POWER PLANTS (UNITS) UNDER CONSTRUCTION AS OF SEPTEMBER 2023
Super Critical Sub-Critical Total
Sector
No. of Projects (units) Capacity (MW) No. of Projects (units) Capacity (MW) No. of Projects (units) Capacity (MW)
Central 9 [18] 12,720 0 0 9 (18) 12,720
State 12 [21] 15,120 1 (1) 370 13 (22) 15,490
Private 1 [2] 1600 0 0 1(2) 1,600
Total 22 (41) 29,440 1 (1) 370 23 (421) 29810
TENTATIVE YEAR WISE TARGET OF THERMAL CAPACITY TO BE INCLUDED INTO NATIONAL CAPACITY, AS OF SEPTEMBER 2023
Sector 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 Total (MW)
Central 4900 5560 800 660 1460 800 14180
State 5180 5560 2120 0 0 0 12860
Private 0 0 0 800 800 0 1600
Total 10080 11120 2920 1460 2260 800 28640
SUMMARY
5.1.1 THERMAL
LIST OF KEY UPCOMING THERMAL POWER PROJECTS AS OF OCTOBER 2023 – CENTRAL & PRIVATE SECTOR
Anticipated
Implementing Capacity Trial Run
Project Name State SECTOR Technology
Agency (MW) (as per
CEA)
Barh STPP St-I Bihar NTPC Central Supercritical 660 Jul-24
Buxar TPP Bihar SJVN Central Supercritical 660 Jun-24
North
Jharkhand NTPC Central Supercritical 660 Nov-23
Karanpura STPP
Ultra
Patratu STPP Jharkhand PVUNL Central 800 Jul-24
Supercritical
Ultra
Talcher TPP St-III Odisha NTPC Central 660 Nov-26
Supercritical
Ultra
Lara STPP St-II Chhattisgarh NTPC Central 800 Dec-27
Supercritical
Uttar
Ghatampur TPP NUPPL Central Supercritical 660 Nov-23
Pradesh
Uttar Ultra
Khurja SCTPP THDC Central 660 Feb-24
Pradesh Supercritical
Telangana STPP Ultra

Telangana NTPC Central 800 Nov-23
St- I Supercritical
Mahan STPP Madhya Mahan Energen Ultra

Private 800 Nov-26
Ph-II Pradesh Ltd Supercritical

SUMMARY
5.1.1 THERMAL
LIST OF KEY UPCOMING THERMAL POWER PROJECTS AS OF OCTOBER 2023 – STATE SECTOR
Implementing Capacity Anticipated Trial Run
Project Name State Sector Technology
Agency (MW) (as per CEA)
Dr.Narla Tata Andhra
APGENCO State Supercritical 800 Jan-24
Rao TPS St-V Pradesh
Jawaharpur Uttar Ultra
UPRVUNL State 660 Nov-23
STPP Pradesh Supercritical
Uttar Ultra
Obra-C STPP UPRVUNL State 660 Nov-23
Pradesh Supercritical
Uttar
Panki TPS Extn. UPRVUNL State Supercritical 660 Sep-24
Pradesh
Tamil TANGEDC
Ennore SCTPP State Supercritical 660 Apr-25
Nadu O
North Chennai Tamil TANGEDC
State Supercritical 800 Dec-23
TPP St-III Nadu O
Udangudi STPP Tamil TANGEDC
State Supercritical 660 Sep-24
St-I Nadu O
Maharas MAHAGE
Bhusawal TPS State Supercritical 660 Feb-24
htra NCO
Sagardighi TPP West
WBPDCL State Supercritical 660 Jan-25
St-III Bengal
Telanga
Yadadri TPS TSGENCO State Supercritical 800 Dec-23
na
Yelahanka Karnata
KPCL State Subcritical 370 Nov-23
CCPP ka
Uppur Super Tamil TANGEDC
State Supercritical 800 On Hold
Critical TPP Nadu O
Tamil TANGEDC
Ennore Exp TPP State Supercritical 660 On hold
Nadu O
SUMMARY
5.1.2 HYDRO
POWER MARKET, INSTALLED CAPACITY AND FORECAST IN GW , HYDRO, INDIA, 2019-2028
CAGR (FY2022-23 TO FY2027-28): 1.66 %
50.87
49.51
48.44
47.64
47.12
46.72 46.85
46.21
45.7
45.4
2018-19 (a) 2019-20 (a) 2020-21 (a) 2021-22 (a) 2022-23 (a) 2023-24 (e) 2024-25 (f) 2025-26 (f) 2026-27 (f) 2027-28 (f)
SUMMARY
5.1.2 HYDRO
BACKGROUND
• India's hydropower sector has a notable historical trajectory, marked by early investments in hydropower projects. Over the years, hydropower has emerged as a significant contributor to India's energy
landscape. Presently, it plays a crucial role in the country's energy mix, offering a clean and renewable energy source.
• India is the fifth largest power generation market in the world, after China, the United States, Brazil and Canada.
MARKET OVERVIEW
• According to the Central Electricity Authority statistics, as of March 31, 2023, there were 729 hydroelectric generating units installed in 211 Hydro-Electric Stations with an aggregate installed capacity of
46850.15 MW in operation, about 4745.6 MW pumped storage capacity in process in 2023 with nearly 57,345 MW of pumped storage capacity under various stages of investigation and construction.
Utilization of Hydro Power Potential - 42104.6 MW (29%) out of 145320 MW developed, and 15023.5 MW (10.3%) is under construction (as of March 2023).
• The generation from the hydroelectric power stations in the country during 2022-23 was 162098.77 MU (excluding import from Bhutan), which was about 7% higher than the generation during 2021-22
and about 7.59 % higher than the generation targets for 2022- 23.
• According to the Central Electricity Authority (CEA), India has a hydroelectric potential of 145 GW, with only 29% of this capacity developed. Notably, the contribution of hydropower to India's electricity
production has diminished from 29% in 1985 to a mere 9% as of 2023. This decline in the share of hydropower has consequently contributed to an overall reduction in the percentage of electricity
derived from renewable sources.
• The sector faces constraints such as environmental considerations, potential displacement of communities due to dam construction, and challenges related to project financing. Striking a balance
between the benefits of hydropower and mitigating its environmental and social impacts remains a key challenge.
• In addition to these challenges, several factors impede the advancement of hydropower development in India. These include a scarcity of skilled labor and contractors, complexities in obtaining
necessary clearances, a lack of adherence to a standardized guideline or checklist by the government, substantial hydro potential in regions affected by insurgency and militant issues, and disputes at
both inter-state and international levels.
• Nonetheless, despite these impediments, there is ongoing construction of 10.2 MW of hydropower capacity. The Central Electricity Authority (CEA) envisions that India will witness the installation of
62.2 GW of hydropower by 2032, potentially reaching up to 65.7 GW under a "high hydro" scenario. This increase in hydropower capacity could mitigate the need for new thermal or energy storage
projects. Moreover, achieving 4.9 GW in small hydro (SHP) capacity through 1167 small hydro projects is noteworthy. With a potential of 21.1 GW across 7,133 sites, further growth potential exists
beyond the current projection of 5.4 GW by 2030.
• In conclusion, India’s hydropower sector stands poised for continued growth and evolution as a crucial component of the nation's renewable energy portfolio. The historical investments and present-day
developments underscore the sector's importance in meeting energy needs sustainably. As India navigates its energy transition, the hydropower sector offers promise and challenges, necessitating a
strategic approach to balance economic development with environmental and social considerations.
SUMMARY
5.1.2 HYDRO
REGION-WISE SUMMARY OF HYDRO-ELECTRIC INSTALLED CAPACITY (ABOVE 25 MW CAPACITY) AS ON 31.03.2023)

No. of Hydro Installed Capacity
S.No Region
Electric Units (MW) Himachal Pradesh 2997.00
Jammu & Kashmir 1110.00
1 Northern 258 19696.25 Punjab 941.00

Rajasthan 411.00
Uttar Pradesh 501.60
2 Western 101 7392 Uttarakhand 2201.15
Chhattisgarh 120.00
Gujarat 1990.00
3 Southern 246 1 1747.15
Madhya Pradesh 715.00
Maharashtra 3047.00
Andhra Pradesh 1150.00
4 Eastern 86 5988
Telangana 2865.60
Karnataka 3689.20
5 North-Eastern 38 2027 Kerala 1864.15

Tamil Nadu 2178.20
Jharkhand 130.00
Total 729 46850.15 Odisha 2154.55
West Bengal 986.00
Sikkim 1712.00
DVC 143.20
NHPC 862.00
Assam 100.00
Source: Central Electricity Authority Meghalaya 322.00
SUMMARY
5.1.2 HYDRO
LIST OF KEY CENTRAL SECTOR HYDRO ELECTRIC PROJECTS
State Owner Project Name No. of units Capacity (MW) Commissioning Date
Jammu & Kashmir NHPC DULHASTI HPS 1 130.00 2007
Jammu & Kashmir NHPC SALAL HPS 4 115.00 1993
Jammu & Kashmir NHPC KISHANGANGA HPS 1 110.00 2018
Uttarakhand THDC KOTESHWAR HPS 1 100.00 2011
Sikkim NHPC TEESTA V HPS 1 170.00 2008
Arunachal Pradesh NEEPCO RANGANADI HPS 1 135.00 2002
Arunachal Pradesh NEEPCO KAMENG HPS 1 150.00 2020
SUMMARY
5.1.2 HYDRO
LIST OF KEY CENTRAL SECTOR HYDRO ELECTRIC PROJECTS
State Owner Project Name No. of units Capacity (MW) Commissioning Date
Himachal Pradesh NHPC CHAMERA- I HPS 1 180.00 1994
Himachal Pradesh NHPC CHAMERA- II HPS 1 100.00 2003
Himachal Pradesh NHPC PARBATI-III HPS 1 130.00 2014
Himachal Pradesh NTPC KOLDAM 1 200.00 2015
SUMMARY
5.1.2 HYDRO
LIST OF KEY STATE SECTOR HYDRO ELECTRIC PROJECTS
Installed Capacity
Region/State/UT Owner Name of Project Unit No. Year of Comm.
(MW)
Jammu & Kashmir JKSPDC BAGLIHAR HPS 1 150.00 2008
Jammu & Kashmir JKSPDC BAGLIHAR II HPS 1 150.00 2015
Punjab PSPCL RANJIT SAGAR HPS 1 150.00 2000
Gujarat SSNNL S SAROVAR RBPH HPS 1 200.00 2005
SUMMARY
5.1.2 HYDRO
LIST OF KEY STATE SECTOR HYDRO ELECTRIC PROJECTS
Installed Capacity
(MW)
Telangana TSGENCO SRISAILAM LB HPS 1 150.00 2001
Karnataka KPCL VARAHI HPS 3 115.00 2009
Karnataka KPCL VARAHI HPS 4 115.00 2009
Odisha OHPC UPPER INDRAVATI HPS 1 150.00 1999
Odisha OHPC UPPER KOLAB HPS 4 80.00 1993
West Bengal WBPDC PURULIA PSS HPS 1 225.00 2007
Sikkim TEESTA Urja Ltd TEESTA-III HPS 1 200.00 2017
SUMMARY
5.1.2 HYDRO
LIST OF KEY PRIVATE SECTOR HYDRO ELECTRIC PROJECTS
Installed Capacity
(MW)
Himachal Pradesh ADHPL ALLAIN DUHANGAN HPS 1 96.00 2010
Himachal Pradesh ADHPL ALLAIN DUHANGAN HPS 2 96.00 2010
Himachal Pradesh HBPCL BASPA HPS 1 100.00 2003
Uttrakhand JPPVL VISHNU PRAYAG HPS 1 100.00 2006
Uttrakhand AHPC (GVK) SHRINAGAR HPS 1 82.50 2015
Maharashtra Tata Hydro Power Co. Ltd BHIRA PSS HPS 1 150.00 1995
Sikkim Madhya Bharat Power Co. Ltd RONGNICHU HPS 1 56.50 2021
Sikkim Madhya Bharat Power Co. Ltd RONGNICHU HPS 2 56.50 2021
SUMMARY
5.1.2 HYDRO
LIST OF HYDRO ELECTRIC PROJECTS (ABOVE 25 MW) UNDER IMPLEMENTATION – CENTRAL SECTOR
Cap. Under
Name of the Project (Executing Agency) State / UT District Installed Capacity ( No. X MW.) River/Basin Date of finish/ commissioning
Execution(MW)
Lower Subansiri, Ar. 2023-26 (May'25) # {2
Subansiri Lower (NHPC) Arunachal Pradesh/Assam 8x250 2000.00 Subansiri/ Brahmaputra
Pradesh / Dhemaji, Assam units during 2023-24}
Parbati St. II (NHPC) Himachal Pradesh Kullu 4x200 800.00 Parbati/Beas/Indus 2024-25 (Jun'24)
Luhri-I (SJVN) Himachal Pradesh Kullu/Shimla 2x80+2x25 210.00 Satluj/Indus 2025-26 (Jan'26)
Dhaulasidh (SJVN) Himachal Pradesh Hamirpur/ Kangra 2x33 66.00 Beas/Indus 2025-26 (Nov'25)
Marusadar/ Chenab /
Pakal Dul (CVPPL) UT of Jammu & Kashmir Kishtwar 4x250 1000.00 2026-27 (Sept'26)
Indus
Chenab/ Indus
Kiru (CVPPL) UT of Jammu & Kashmir Kishtwar 4x156 624.00 2025-26 (Mar'26)
Teesta/Brahmaputra
Teesta St. VI NHPC Sikkim South Sikkim 4x125 500.00 2026-27 (Aug'26)
Vishnugad Pipalkoti (THDC) Uttarakhand Chamoli 4x111 444.00 Alaknanada/Ganga 2026-27 (Jun'26)
Naitwar Mori (SJVNL) Uttarakhand Uttarkashi 2x30 60.00 Tons/Yamuna/Ganga 2023-24 (Nov'23)
Tapovan Vishnugad (NTPC) Uttarakhand Chamoli 4x130 520.00 Dhauliganga / Alaknanada & /Ganga 2025-26 (Dec'25)
Bhilangna/Bhagirathi/
Tehri PSS (THDC) Uttarakhand Tehri Garhwal 4x250 1000.00 Ganga 2024-25 (Sept'24)
Rammam-III (NTPC) West Bengal Darjeeling 3x40 120.00 Rammam/ Rangit/Teesta Brahmaputra 2026-27 (Sept'26)
Rangit/ Teesta/
Rangit-IV (NHPC) Sikkim West Sikkim 3x40 120.00 Brahmaputra 2024-25 (Aug'24)
Chenab/Indus
Ratle (RHEPPL / NHPC) UT of Jammu & Kashmir Kishtwar 4x205 + 1x30 850.00 2026-27 (May'26)
Chenab/Indus
Kwar (CVPPPL) UT of Jammu & Kashmir Kishtwar 4x135 540.00 2026-27 (Nov'26)
Sunni Dam (SJVN) Himachal Pradesh Shimla/Mandi 4x73+1x73+1x17 382.00 Satluj/Indus 2027-28 (Mar'28)
2031-32
Dibang Multipurpose Project (NHPC) Arunachal Pradesh Lower Dibang Valley 12x240 2880.00 Dibang/Brahmaputra
(Feb'32)
Lata Tapovan (NTPC) Uttarakhand Chamoli 3x57 171.00 Dhauliganga /Alaknanada & Ganga *
Central Sector Total 12287.00
SUMMARY
5.1.2 HYDRO
LIST OF HYDRO ELECTRIC PROJECTS (ABOVE 25 MW) UNDER IMPLEMENTATION – STATE SECTOR
Installed Capacity ( No. X
Name of the Project (Executing Agency) State / UT District Cap. Under Execution(MW) River/Basin Date of finish/ commissioning
MW.)
Polavaram (APGENCO/ Irrigation Godavari/EFR
Andhra Pradesh East & West Godavari 12x80 960.00 2024-26 (Mar'26)##
Dept., A.P.)
Lower Kopli (APGCL) Assam Dima Hasao & Karbi Anglong 2x55+2x2.5+1x5 120.00 Kopili/Brahmaputra 2024-25 (Mar'25)
Uhl/Beas/
Uhl-III (BVPCL) Himachal Pradesh Mandi 3x33.33 100.00 2024-25 (Dec'24)
Indus
Satluj/ Indus
Shongtong Karcham (HPPCL) Himachal Pradesh Kinnaur 3x150 450.00 2026-27 (Nov'26)
Parnai (JKSPDC) UT of Jammu & Kashmir Poonch 3x12.5 37.50 Jhelum/ Indus 2024-25 (Mar'25)
Mudirapuzha/ Periyar/ Baypore Periyar/
Pallivasal (KSEB) Kerala Idukki 2x30 60.00 2023-24 (Mar'24)
WFR
Thottiyar/ Periyar/
Thottiyar (KSEB) Kerala Idukki 1x30+1x10 40.00 2023-24 (Mar'24)
/ Baypore Periyar/ WFR
Ravi/ Indus
Shahpurkandi (PSPCL/ Irrigation Deptt., Pb.) Punjab Pathankot 3x33+3x33+1x8 206.00 2025-26 (Oct'25)
Kundah Pumped Storage Phase-I,II&III) Tamil Nadu Nilgiris 4x125 500.00 Kundah/Bhavani/ Cauvery/EFR 2024-25 (Oct'24)
Chanju-III (HPPCL) Himachal Pradesh Chamba 3x16 48.00 Chanju Nallah 2027-28 (Jun'27)
Mankulam (KSEB) Kerala Idukki 2x20 40.00 Melachery 2026-27 (May'26)
Lakhwar Multipurpose Project (UJVNL) Uttarakhand Dehradun & Tehri Garhwal 3x100 300.00 Yamuna 2028-29 (Oct'28)
Lower Sileru Extension (APGENCO) Andhra Pradesh Alluri Sitharamaraju 2x115 230.00 Sileru/Godavari 2025-26 (Mar'26)
Chenab/ Indus
Lower Kalnai (JKSPDC) UT of Jammu & Kashmir Kishtwar 2x24 48.00 *
Koyna Left Bank (WRD,MAH) Maharashtra Satara 2x40 80.00 Koyna/ Krishna/EFR *
Polavaram (APGENCO/ Irrigation Godavari/EFR
Andhra Pradesh East & West Godavari 12x80 960.00 2024-26 (Mar'26)##
Dept., A.P.)
Lower Kopli (APGCL) Assam Dima Hasao & Karbi Anglong 2x55+2x2.5+1x5 120.00 Kopili/Brahmaputra 2024-25 (Mar'25)
Uhl/Beas/
Uhl-III (BVPCL) Himachal Pradesh Mandi 3x33.33 100.00 2024-25 (Dec'24)
Indus
State Sector Total 3219.50
SUMMARY
5.1.2 HYDRO
LIST OF HYDRO ELECTRIC PROJECTS (ABOVE 25 MW) UNDER IMPLEMENTATION – PRIVATE SECTOR
Name of the Project (Executing Agency) State / UT District MW.) Cap. Under Execution(MW) River/Basin Date of finish/ commissioning
Tidong/Satluj/Indus
Tidong-I (Statkraft IPL) Himachal Pradesh Kinnaur 3x50 150.00 2024-25 (Jun'24)
Ravi/ Indus
Kutehr (JSW Energy Ltd) Himachal Pradesh Chamba 3x80 240.00 2025-26 (Nov'25)
Pinnapuram (Greenko AP01 IREP Private

Andhra Pradesh Kurnool 4x240+2x120 1200.00 Pennar Basin 2024-25 (Dec'24)
Limited)
Pabbar/Tons/ Yamuna/ Ganga

Tangnu Romai (TRPG) Himachal Pradesh Shimla 2x22 44.00 *
Narmada/CIRS
Maheshwar (SMHPCL) Madhya Pradesh Khargone & Khandwa 10x40 400.00 *
Rangpo/ Teesta/
Bhasmey (Gati Infrastructure) Sikkim East Sikkim 2x25.5 51.00 Brahmaputra *
Greater Rangit/ Teesta/

Rangit-II (Sikkim Hydro) Sikkim West Sikkim 2x33 66.00 Brahmaputra *
Rangyongchu/ Teesta/
Panan (Himagiri) Sikkim North Sikkim 4x75 300.00 *
Brahmaputra
Mandakini/Alaknanda
Phata Byung (LANCO) Uttarakhand Rudraprayag 2x38 76.00 Ganga *
Tidong/Satluj/Indus
Tidong-I (Statkraft IPL) Himachal Pradesh Kinnaur 3x50 150.00 2024-25 (Jun'24)
SUMMARY
5.1.2 HYDRO
LIST OF HYDRO ELECTRIC PROJECTS (ABOVE 25 MW) UNDER IMPLEMENTATION – PRIVATE SECTOR

Name of the Project (Executing Agency) State / UT District Cap. Under Execution(MW) River/Basin Date of finish/ commissioning
MW.)
Ravi/ Indus
Kutehr (JSW Energy Ltd) Himachal Pradesh Chamba 3x80 240.00 2025-26 (Nov'25)
Pinnapuram (Greenko AP01 IREP Private

Andhra Pradesh Kurnool 4x240+2x120 1200.00 Pennar Basin 2024-25 (Dec'24)
Limited)
Pabbar/Tons/ Yamuna/Ganga
Tangnu Romai (TRPG) Himachal Pradesh Shimla 2x22 44.00 *
Narmada/CIRS
Maheshwar (SMHPCL) Madhya Pradesh Khargone & Khandwa 10x40 400.00 *
Rangpo/ Teesta/
Bhasmey (Gati Infrastructure) Sikkim East Sikkim 2x25.5 51.00 Brahmaputra *
Greater Rangit/ Teesta/

Rangit-II (Sikkim Hydro) Sikkim West Sikkim 2x33 66.00 Brahmaputra *
Rangyongchu/ Teesta/
Panan (Himagiri) Sikkim North Sikkim 4x75 300.00 *
Brahmaputra
Mandakini/Alaknanda
Phata Byung (LANCO) Uttarakhand Rudraprayag 2x38 76.00 Ganga *
Private Sector Total 2527.00
* Note : Project commissioning date not announced Source: Central Electricity Authority
SUMMARY
5.1.3 RENEWABLES
POWER MARKET, INSTALLED CAPACITY AND FORECAST IN GW, RENEWABLES, INDIA, 2019-2028
CAGR (FY2022-23-FY2027-28): 10.06 %
202.11
182.61
165.61
151.11
139.11
125.16
109.89
94.43
87.03
77.64
2018-19 (a) 2019-20 (a) 2020-21 (a) 2021-22 (a) 2022-23 (a) 2023-24 (e) 2024-25 (f) 2025-26 (f) 2026-27 (f) 2027-28 (f)
SUMMARY
5.1.3 RENEWABLES
BACKGROUND
• The Government of India is investing heavily in renewable energy to reduce carbon emissions, undertaking various large-scale sustainable power projects, and promoting green energy. The country
targets about 450-500 gigawatts (GW) of installed renewable energy capacity by 2030, a large share of which is expected to come from solar energy. This has propelled the country’s solar sector’s
growth, which falling costs and supportive government incentives buoy.
MARKET OVERVIEW
• India ranks 4th globally in renewable energy installed capacity, including large hydro, wind power, and solar power capacity, according to the REN21 Renewables 2022 Global Status Report. At COP26,
the country pledged an ambitious target of achieving 500 GW of non-fossil fuel-based energy by 2030, marking the world’s most extensive expansion plan in renewable energy under the Panchamrit
initiative.
• Over the last 8.5 years, India has witnessed a 396% increase in its installed non-fossil fuel capacity, reaching over 132.13 GW, encompassing small hydro, waste-to-energy, and biomass sources. This
constitutes approximately 40% of the country's total capacity. Notably, India experienced the highest year-on-year growth in renewable energy additions in 2022, registering a significant increase of
9.83%. The solar energy capacity has witnessed a 30-fold increase in the last nine years, reaching 70.10 GW as of July 2023. Overall, the installed renewable energy capacity, including large hydro, has
surged by approximately 128% since 2014.
• India has established ambitious targets to significantly reduce the carbon intensity of its economy by over 45% by the end of the decade, achieving 50% cumulative electric power installation from
renewables by 2030 and attaining net-zero carbon emissions by 2070. As part of this commitment, the nation is targeting 500 GW of installed renewable energy capacity by 2030.
• In line with these objectives, India is set to produce five million tons of green hydrogen by 2030, backed by deploying 125 GW of renewable energy capacity. The country has approved the development
of 57 solar parks with a total of 39.28 GW combined. The wind energy sector also targets 30 GW from offshore installations by 2030, with identified potential sites.
• A significant number of Renewable Energy (RE) projects are under various stages of construction. As of 31st October 2023, a total RE Capacity of 78935.37 MW is under construction, which comprises
50055.98 MW of Solar Projects, 16224.75 MW of Wind projects, 12342.29 MW of Hybrid projects, 85 MW of Small Hydro projects of aggregate capacity 227.35 MW of Others (Waste to energy and Co-
generation) projects. In addition to the above, an aggregate capacity of 57199.30 MW (including Solar-33618.00 MW, Wind-9312.30 MW, and Hybrid 14269 MW) is reported by the Central Electricity
Authority (CEA) to be in the development stage in the country. It may translate to an active under-construction stage shortly.
• In conclusion, India's commitment to sustainability is evident in its ambitious targets, including a 45% reduction in carbon intensity by the end of the decade, 500 GW of renewable energy capacity, and
five million tons of green hydrogen by 2030. With approved solar parks, offshore wind projects, and a focus on eligible activities for carbon credit trading, India positions itself as a critical player in the
global transition to clean energy. The nation's multifaceted approach showcases leadership and dedication to a sustainable energy future.
SUMMARY
5.1.3 RENEWABLES
INSTALLED RENEWABLE ENERGY CAPACITY (EXCLUDING HYDRO), IN MW, AS OF OCTOBER 2023, INDIA
72018.04
44292.38
9433.56
828.25
Solar Wind Biomass (Bagasse) Cogeneration Biomass(non-bagasse)Cogeneration
Source: Ministry of New and Renewable Energy (MNRE), India
SUMMARY
5.1.3 RENEWABLES
CAPACITY OF UNDER-CONSTRUCTION RENEWABLE ENERGY (RE) PROJECTS AS OF OCTOBER 2023
Awarded for Execution Commissioned Under-construction

(SECI/CPSUs/STATES) Type
(MW) (MW) (MW)
SOLAR 16838.00 1383.00 15455.00

SECI
(excluding Projects in UMREPPs/Solar
Parks) WIND 7330.60 1236.90 6093.70
HYBRID 5080.00 0.00 5080.00
NTPC SOLAR 483.00 10.00 473.00
NHDC SOLAR 96.00 0.00 96.00
NHPC SOLAR 440.00 0.00 440.00
SJVN SOLAR 3760.00 0.00 3760.00
Solar Projects in Solar Parks and

UMREPP (Ultra Mega Renewable SOLAR 21214.00 11127.00 10087.00
Energy Power Projects)
ANDHRA PRADESH HYBRID 1139.00 0.00 1139.00

ASSAM SOLAR
BIHAR SOLAR 250.00 0.00 250.00
DELHI SOLAR
SOLAR 1365.50 0.00 1365.50
CHHATTISGARH
SMALL HYDRO 40.40 0.00 40.40
SOLAR 4768.00 0.00 4768.00
GUJARAT WIND 486.10 0.00 486.10
HYBRID 727.79 0.00 727.79
Source: Ministry of New and Renewable Energy
SUMMARY
5.1.3 RENEWABLES
CAPACITY OF UNDER-CONSTRUCTION RENEWABLE ENERGY (RE) PROJECTS AS OF OCTOBER 2023
Awarded for Execution Commissioned Under-construction

(SECI/CPSUs/STATES) Type
(MW) (MW) (MW)
SOLAR 3368.72 133.88 3234.84
WIND 6570.05 0.00 6570.05
KARNATAKA HYBRID 2276.38 61.30 2215.08
OTHERS 227.35 0.00 227.35
SMALL HYDRO 44.60 0.00 44.60
SOLAR 582.50 0.00 582.50
MADHYA PRADESH WIND 1411.80 0.00 1411.80
HYBRID 559.42 0.00 559.42
SOLAR 1535 2.86 1532.14
MAHARASHTRA WIND 1611.30 199.00 1412.30
HYBRID 1101.00 0.00 1101.00
SOLAR 8012.00 0.00 8012.00

RAJASTHAN
HYBRID 1520.00 0.00 1520.00
TAMIL NADU WIND 250.80 0.00 250.80
TOTAL 93089.31 14153.94 78935.37
Source: Ministry of New and Renewable Energy
SUMMARY
5.1.3 RENEWABLES
KEY SOLAR ENERGY PROJECTS, EXISTING, AS OF 2023
Name Location Capacity (MW) Status Operator/ contactor Cost Completion year
Solar Energy Corporation

Bhadla Solar Park Jodhpur Rajasthan 2245 Active USD 1682.6 million 2020
of India
Solar Power Developers

Pavagada Solar Park Tumkur, Karnataka 2050 Active USD 1983.1 million 2019
India Limited (SPDIL)
Adani Green Energy

Kamuthi Solar Solar Power Project Ramanathapuram, Tamil Nadu 648 Active USD 781.2 million 2016
Limited
Rewa Ultra Mega Solar

Rewa Ultra Mega Solar Park Rewa, Madhya Pradesh 750 Active USD 540.0 million 2018
Limited

Bhadla Phase – II Jodhpur, Rajasthan 500 Active of India USD 300.5 million 2017
Madhya Pradesh Power

Mandsaur Solar Park Mandsaur, Madhya Pradesh 600 Active Management Company USD 360.6 million 2017
Limited
Gujarat Solar Power

Charanka Solar Park Patan, Guajarat 500 Active Corporation Limited USD 240.4 million 2010
(GSPCL)
SUMMARY
5.1.3 RENEWABLES
KEY SOLAR ENERGY PROJECTS, EXISTING, AS OF 2023
Name Location Capacity (MW) Status Operator/ contactor Cost Completion year
Ramagundam Floating Solar PV Project Ramagundam, Telangana 100 Active NTPC USD 50.8 million 2022
Kayamkulam Floating Solar Project Kayamkulam, Kerala 92 Active NTPC USD 55.9 million 2022
Simhadri Floating Solar PV Project Simhadri, Andhra Pradesh 25 Active NTPC USD 39 million 2021
Welspun Energy Solar PV Park Neemuch, Madhya Pradesh 151 Active Welspun USD 182 million 2014
Adani Green Energy, India

Parampujya Solar Rajeshwar PV Park Karnataka, India 50 Active NA 2018
and Total Solar, Singapore
Kurnool Ultra Mega Solar Park Kurnool, Andhra Pradesh 1000 Ative NTPC USD 901.4 million 2018
2016 (Phase-1) and 2018

Ananthapuram Ultra Mega Solar Park Anantapur, Andhra Pradesh 1500 Active NTPC USD 721.1 million
(Phase 2)

NP Kunta Ultra Mega Solar Park Ananthapuram, Andhra Pradesh 978 Active USD 1802.8 million 2016
of India
SUMMARY
5.1.3 RENEWABLES
KEY SOLAR ENERGY PROJECTS, UPCOMING, AS OF 2023
Expected Commercial
Name Location Capacity (MW) Status Operator/ contactor Cost
Operation
Tarapur Solar Power Plant Tarapur, Maharashtra 100 Planning Avaada Energy USD 60 million 2024
Gujarat State Electricity

Sayla Solar PV Park Sayla, Gujarat 42 Execution Corporation Limited USD 29 million 2024
(GSECL)
Bikaner Solar project Bikaner, Rajasthan 300 Awarded Ayana Renewable Power NA 2024
Solar Project Rajasthan 280 Awarded Avaada Energy USD 218.7 million NA

Leh Pang Ultra Mega Solar PV Project Lakakh, Jammu & Kashmir 5000 Planning of India USD 3490 million 2023
O2 Power India Solar PV Park Rajasthan 400 MW Permitting O2 Power NA 2023

Omkareshwar Floating Solar project Omkareshwar, Madhya Pradesh 600 MW Under-construction USD 360.6 million 2023
Limited
Solar Park Rann of Kutch, Gujarat 4750 MW Planned NTPC USD 862 million 2024

Agar Solar Park Agar, Madhya Pradesh 550 MW Under-Construction USD 631.1 2023
Limited (RUMSL)
SUMMARY
5.1.3 RENEWABLES
KEY WIND ENERGY PROJECTS, UPCOMING, AS OF 2023
Project Capacity
Name of the Project Name of the Project location Date of completion Revised Date Remarks
(MW)
2000 MW ISTS-connected Wind
ReNew Wind Energy Kutch,
Power Projects 400 31.08.2021 TBD Under Litigation at CERC.
(AP2) Private Limited, Gujarat
(Tranche-III)
1200 MW ISTS- Torrent Power Devbhoomi Dwarka, Gujarat 115 15.09.2022 TBD Entire Capacity commissioned in July 2023.
Kutch, WPD has requested for additional time for

(Tranche-V) Netra Wind Private 300 19.11.2022 TBD
Gujarat completion of work.
Kutch,
1200 MW ISTS- Srijan Energy 150 01.12.2022 TBD Entire Capacity is Commissioned.
Gujarat
1800 MW ISTS- Apraava Energy Devbhumi Dwarka, Gujarat 250.8 13.11.2022 TBD WPD
2500 MW ISTS- Vena Energy Vidyuth Koppal, Karnataka 160 31.03.2023 31.12.2023 NA
WPD has stated commissioning plan as under:

Tuticorin, Tenkasi & Tirunelveli, Tamil 31.12.2023 - 135 MW
Projects (Tranche-IX) JSW Future Energy 540 31.03.2023 TBD
Nadu 31.03.2024 - 216 MW
30.06.2024 - 189 MW

Green lnfra Wind
Power Projects Koppal, Karnataka 180 30.12.2023 01.07.2024 NA
Energy Limited
(Tranche-XI)
Halvad Renewables
Power Projects Koppal & Gadag, Karnataka 300 29.03.2025 TBD NA
Pvt. Ltd.
(Tranche-XII)
SJVN Green Energy
Power Projects Gujarat 100 26.06.2025 TBD NA
Ltd.
(Tranche-XIII)
Total Capacity under Construction in MW, as of October 2023 6093.70
Source: Ministry of New and Renewable Energy, India
SUMMARY
5.1.4 OTHER POWER GENERATION (NUCLEAR POWER)

POWER MARKET, INSTALLED CAPACITY AND FORECAST IN GW, OTHER POWER GENERATION (NUCLEAR POWER), INDIA, 2019-2028
CAGR (FY2022-23-FY2027-28): 17.95%
15.48
13.48
10.08 10.08
9.58
6.78 6.78 6.78 6.78 6.78
2018-19 (a) 2019-20 (a) 2020-21 (a) 2021-22 (a) 2022-23 (a) 2023-24 (e) 2024-25 (f) 2025-26 (f) 2026-27 (f) 2027-28 (f)
SUMMARY
5.1.4 OTHER POWER GENERATION
OVERVIEW OF NUCLEAR ENERGY OVERVIEW OF NUCLEAR ENERGY

• India's power generation landscape goes beyond traditional sources such as thermal, hydro, • However, ensuring safety and gaining public confidence are crucial factors for the growth of
and renewable energy. Including alternative power generation methods is vital in India's nuclear energy sector. The Fukushima nuclear accident in Japan in 2011 emphasized
diversifying the energy mix, and nuclear power stands out as a significant contributor. the need to prioritize safety measures.
• India has steadily expanded its nuclear energy capacity to fulfill its growing electricity • Additionally, the economic aspect of nuclear power plants poses a notable obstacle due to
demands while minimizing carbon emissions. The country operates a mix of indigenous and the requirement for substantial initial capital. Acquiring affordable funding and guaranteeing
imported reactors, showcasing its commitment to energy security and technological long-term profitability is imperative for the viability of these endeavors.
advancement.
• Furthermore, proper management of radioactive waste is paramount in India. Robust waste
• The nuclear power industry in the country is expected to undergo substantial growth and management strategies must be adopted to prevent environmental contamination and
expansion shortly. By 2031, India aims to increase its nuclear power generation capacity protect public health. Prioritizing the safe disposal and containment of radioactive waste is
from 7,480 MW in 2023 to 22,480 MW. This is in line with the government’s aim to imperative to mitigate potential risks.
decrease reliance on fossil fuels and address concerns related to climate change.
• In conclusion, by implementing strategic plans to construct additional reactors and establish
• To achieve these goals, India has devised two main strategies. Firstly, there are plans to new projects, India aims to increase its nuclear power generation capacity and reduce
construct additional reactors at existing nuclear power plants. This approach aims to reliance on fossil fuels in the coming years.
optimize resources and streamline operational processes, ultimately enhancing the capacity
of these plants and ensuring a consistent power supply.
• Secondly, India is actively working on establishing new greenfield projects. Notable
instances include the Gorakhpur Haryana Anu Vidyut Pariyojana (GHAVP) and the Chutka
Nuclear Power Plant in Madhya Pradesh. These projects are expected to contribute to the
overall expansion of India's nuclear power sector and further diversify its energy sources.
Source: Government of India
SUMMARY

NUCLEAR POWER PLANT UNDER OPERATION
S.No Plant Name Date of Commercial Operation Location Gross Power (MWe) Type
1. Tarapur Atomic Power Plant-1 (TAPS-1) Oct-1969 BOISAR, MAHARASTRA 160 Boiling Water Reactors (BWR)
2. Tarapur Atomic Power Plant-2 (TAPS-2) Oct-1969 BOISAR, MAHARASTRA 160 Boiling Water Reactors (BWR)
3. Rajasthan Atomic Power Plant-1 (RAPS-1) Dec-1973 KOTA, RAJASTHAN 100 Pressurized Heavy Water Reactors (PHWR)
4. Rajasthan Atomic Power Plant-2 (RAPS-2) Apr-1981 KOTA, RAJASTHAN 200 Pressurized Heavy Water Reactors (PHWR)
5. Madras Atomic Power Plant-1 (MAPS-1) Jan-1984 KALPAKKAM, TAMILNADU 220 Pressurized Heavy Water Reactors (PHWR)
6. Madras Atomic Power Plant-2 (MAPS-2) Mar-1986 KALPAKKAM, TAMILNADU 220 Pressurized Heavy Water Reactors (PHWR)
7. Narora Atomic Power Plant-1 (NAPS-1) Jan-1991 NARORA, UTTAR PRADESH 220 Pressurized Heavy Water Reactors (PHWR)
8. Narora Atomic Power Plant-2 (NAPS-2) Jul-1992 NARORA, UTTAR PRADESH 220 Pressurized Heavy Water Reactors (PHWR)
9. Kakrapar Atomic Power Plant-1 (KAPS-1) May-1993 TAPI, GUJARAT 220 Pressurized Heavy Water Reactors (PHWR)
10. Kakrapar Atomic Power Plant-2 (KAPS-2) Sep-1995 TAPI, GUJARAT 220 Pressurized Heavy Water Reactors (PHWR)
11 Kakrapar Atomic Power Plant-2 (KAPS-3) October 2023 TAPI, GUJARAT 700 Pressurized Heavy Water Reactors (PHWR)
12. Kaiga Generating Station-1 (KGS-1) Nov-2000 KAIGA, KARNATAKA 220 Pressurized Heavy Water Reactors (PHWR)
Source: Atomic Energy Regulatory Board, Government of India
SUMMARY

NUCLEAR POWER PLANT UNDER OPERATION
Date of Commercial Gross Power

S.No Plant Name Location Type
Operation (MWe)
13. Kaiga Generating Station-2 (KGS-2) Mar-2000 KAIGA, KARNATAKA 220 Pressurized Heavy Water Reactors (PHWR)
14. Rajasthan Atomic Power Plant-3 (RAPS-3) Jun-2000 KOTA, RAJASTHAN 220 Pressurized Heavy Water Reactors (PHWR)
15. Rajasthan Atomic Power Plant-4 (RAPS-4) Dec-2000 KOTA, RAJASTHAN 220 Pressurized Heavy Water Reactors (PHWR)
16. Kaiga Generating Station-3 (KGS-3) May-2007 KAIGA, KARNATAKA 220 Pressurized Heavy Water Reactors (PHWR)
17. Kaiga Generating Station-4 (KGS-4) Jan- 2011 KAIGA, KARNATAKA 220 Pressurized Heavy Water Reactors (PHWR)
18. Tarapur Atomic Power Plant-3 (TAPS-3) Aug-2006 BOISAR, MAHARASTRA 540 Pressurized Heavy Water Reactors (PHWR)
19. Tarapur Atomic Power Plant-4 (TAPS-4) Sep-2005 BOISAR, MAHARASTRA 540 Pressurized Heavy Water Reactors (PHWR)
20. Rajasthan Atomic Power Plant-5 (RAPS-5) Feb-2010 KOTA, RAJASTHAN 220 Pressurized Heavy Water Reactors (PHWR)
21. Rajasthan Atomic Power Plant-6 (RAPS-6) Mar-2010 KOTA, RAJASTHAN 220 Pressurized Heavy Water Reactors (PHWR)
22. Kudankulam Nuclear Power Station-1 (KKNPS-1) Dec-2014 KUDANKULAM, TAMILNADU 1000 Pressurized Water Reactors (PWR)
23. Kudankulam Nuclear Power Station-2 (KKNPS-2) Mar-2017 KUDANKULAM, TAMILNADU 1000 Pressurized Water Reactors (PWR)
Source: Atomic Energy Regulatory Board, Government of India
SUMMARY

NUCLEAR POWER REACTORS UNDER CONSTRUCTION
Capacity Sanctioned Cost (INR

State Location Project
(MW) crore)
Rajasthan Rawatbhata RAPP 7&8 2 X 700 12320
Tamil Nadu Kudankulam KKNPP 3&4 2 X 1000 39849
Tamil Nadu Kalpakkam PFBR & 500 & 5677
Haryana Gorakhpur GHAVP 1&2$ 2 x 700 20594
*Under Revision & Project being implemented by BHAVINI $ Excavation commenced
Source: Government of India, Department of Atomic Energy
SUMMARY

NUCLEAR POWER REACTORS ACCORDED ADMINISTRATIVE APPROVAL AND FINANCIAL SANCTION
Capacity
State Location Project
(MW)
Haryana Gorakhpur GHAVP 3&4 2 x 700
Rajasthan Mahi-Banswara Mahi Banswara 1&2 2 X 700
Rajasthan Mahi-Banswara Mahi Banswara 3&4 2 X 700
Karnataka Kaiga Kaiga 5&6 2 X 700
Madhya Pradesh Chutka Chutka 1&2 2 X 700
Tamil Nadu Kudankulam KKNPP 5&6 2 X 1000
SUMMARY

SITES ACCORDED ‘IN-PRINCIPLE’ APPROVAL
State Site Capacity (MW) In Cooperation with
Maharashtra Jaitapur 6 X 1650 France
Andhra Pradesh Kovvada 6 X 1208 United States of America
Gujarat Chhaya Mithi Virdi 6 X 1000* United States of America
West Bengal Haripur 6 X 1000* Russian Federation
Madhya Pradesh Bhimpur 4 X 700 Indigenous PHWR
* Nominal Capacity
SUMMARY
5.2 POWER TRANSMISSION AND DISTRIBUTION (T&D) NETWORK
BACKGROUND TRANSMISSION NETWORK

• Transmission lines in India play a crucial role in the efficient and reliable distribution of • India surpassed its transmission line target for FY23 by adding 14,625 ckm of lines, as per
electricity. They facilitate the transfer of power from generating stations—whether thermal, official statistics from the Central Electricity Authority (CEA). The actual figure exceeded the
hydro, or renewable—to distribution networks, industries, and households across the country. set target of 14,581 ckm.
• These lines form a crucial part of the power infrastructure, ensuring a stable and widespread • Moreover, in the fiscal year 2023, private sector entities demonstrated remarkable
supply of electricity. India's transmission network helps balance the regional disparities in performance due to the ISTS schemes under the TBCB route. The private sector added 3,883
power generation, supports economic development, and enhances the overall resilience of the ckm of transmission lines, which is one of the highest annual achievements in recent years.
electricity grid by efficiently transporting electricity over long distances. This addition was more than twice the revised target of 1,885 ckm for FY23.
• The majority of these lines were 220kV lines, making up 63 percent of the total market,
reaching 9,198 ckm, which was 56 percent higher than the previous year's 5,894 ckm in
FY22.
• Central government agencies (mainly Power Grid Corporation of India Ltd) added 3,926 ckm,
nearly meeting the revised target of 4,035 km. State government utilities could achieve less
than 80 percent of the new target – 6,816 ckm added as against 8,661 ckm targeted.
Incidentally, the original FY23 target for state utilities stood at a staggering 14,066 ckm,
which was softened by over 38 percent to 8,661 km. Some of the major private players
include Adani Green, Masaya, and Torrent.
Source: Central Electricity Regulatory Commission
SUMMARY

ADDITION OF TRANSMISSION LINE (IN CKM OF LINES), FY2019-20 TO FY2023-24
TRANSMISSION NETWORK
• The prospects for India's power transmission sector are very bright. The country's growing
electricity demand and its commitment to renewable energy are expected to continue to 16,750
drive investment in transmission infrastructure. 14,895
14,625
• Furthermore, India is actively engaged in technological advancements, including high-
voltage direct current (HVDC) transmission. This innovative approach holds immense
potential in enhancing the grid's efficiency and reliability. 11,664
3,657
FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 (Till Aug

2023)

Source: Central Electricity Authority (CEA)
SUMMARY

ONGOING TRANSMISSION PROJECTS
Name of the project Likely capacity addition by 2024-25

Sl. No. States Tentative planned initially (ckm) Commissioning schedule
(ckm)
•Rajasthan (20 GW)

•Gujarat (16 GW)
• Commissioned: 3904 ckm
•MP (5 GW)
Transmission system for integration of 66.5 GW • Under construction: 8598 ckm
1 •Maharashtra (7 GW) 13500 12784
potential Renewable Energy Zones (REZ) • Under Tendering: 282 ckm
•Karnataka (7.5 GW)
• Anticipated completion by Dec 2024
•Andhra Pradesh (8 GW)
•Tamil Nadu (3 GW)
Transmission system for evacuation of 20 GW • Under Tendering: 4400 ckm

2 Rajasthan 6800 4400
potential REZ in Rajasthan • Anticipated completion by Dec 2024
Transmission system for evacuation of 11 GW from

3 potential REZ’s in Gujarat i.e 7 GW from Khavda & 4 Gujarat 4400 - • Likely to be completed by 2025-26
GW from Dholera
4 Other Transmission projects - - 5201 -
SUMMARY

NUMBER OF UTILITY TRANSFORMERS, INDIA, AS OF 31.03.2022
DISTRIBUTION NETWORK
• India's distribution network plays a crucial role in supplying electricity to a large population and
supporting economic development. It serves as a link between power generation and consumers,
minimizing energy loss and maximizing power utilization. This network not only enhances the grid
stability but also facilitates the integration of various energy sources, contributing to both urban and
rural electrification efforts. Its efficiency reduces downtime and strengthens the reliability and
resilience of the power system. 28572
27427
• The Revamped Distribution Sector Scheme (RDSS) was introduced by the Ministry of Power in July
2022. Approved by the Central Government, this scheme has a budget of INR 3037.58 billion
allocated for a period of five years, spanning from FY 2021-22 to FY 2025-26. The main objective of 22895
this scheme is to enhance the quality, dependability, and affordability of power supply to consumers
by establishing a financially sustainable and operationally efficient distribution sector.
• The major goal of the RDSS is to reduce the national Aggregate Technical and Commercial (AT&C)
losses to 12-15% and close the gap between the Average Cost of Supply and Average Realizable
Revenue (ACS-ARR) by 2024-25.
• This program consists of two main parts:
11175
o Part 'A' focuses mainly on providing financial aid for improving the Distribution Infrastructure, as
well as implementing Prepaid Smart Metering and System Metering.
o Part 'B' emphasizes training, capacity building, and other supportive efforts.
• In order to accomplish these objectives, the scheme is designed to improve the operational 4487
efficiencies and financial sustainability of all DISCOMs/Power Departments, with the exception of
Private Sector DISCOMs. DISCOMs/Power Departments are likely to be able to utilize funds provided 1404 1610 1845
500 233
by the scheme to carry out projects related to Prepaid Smart Metering, System Metering, and
Distribution infrastructure. These initiatives will contribute to the reduction of losses and the
modernization of the sector. Norther Region Western Region Southern Region Western Region NorthEastern Region
Step Up Step Down

Source: Ministry of Power, Central Electricity Authority
SUMMARY

ADDITION OF TRANSFORMATION CAPACITY IN MVA, FY2019-20 TO FY2023-24
DISTRIBUTION NETWORK
• The total number of step-up transformers installed at various electricity generating

78,982
stations and sub-stations in the country as of 31st March 2022 was 5592, having an 75,902
aggregate capacity of 383425.59 MVA. The total number of step-down and
distribution transformers were 94,556 and 13,579,572, with aggregate capacity of 68,230
2,238,482 MVA and 694,535 MVA, respectively.
57,575
• According to the Central Electricity Authority (CEA), the overall target for substation
(transformation) capacity addition for FY23 (April 1, 2022, to March 31, 2023) has
been set at 95,659 MVA, and it has achieved 75902 MVA, which is 79.3% of the
target set by the CEA.
• The prospects for India's power distribution sector are challenging but positive. The
government's reform efforts are expected to improve the efficiency and
performance of the sector. However, the sector is expected to address the challenges
of increasing electrification, growing demand for electricity, and the integration of
renewable energy. 16,531
FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 (Till Aug

2023)

SUMMARY

SUB-STATIONS COMPLETED DURING FY 2023-24, AS ON 31-OCT-23
S.No Name of Sub Stations Voltage Ratio (kV/kV) Executing Agency Capacity (MW/MVA) Month of Completion
1 765/400 1x1500MVA T/F (3rd) at Bikaner(PG) 765/400 PGCIL 1500 APR-23
Warangal (New) S/S with 2X1500 MVA transformers and 2X240 MVAR
2 765/400 ADANI 3000 SEP-23
bus reactors.
Extn. at Bhadla-II PS (500MVAICT-2nd 3rd 4th and

3 400/220 PGCIL 500 APR-23
5th ) at Bikaner (PG) Fategarh-II and Bhadla-II)
1x500MVA400/230kV ICT-5 (4th) at Tuticorin under

4 400/230 PGCIL 500 AUG-23
Evacuation of RE inTirunelveli and Tuticorin WEZ
5 765/400/220kV Extension at Fatehgarh-II 400/220 PGCIL 500 JUL-23
Aug. of 1x315MVA 400/220kV ICT to 1x500MVA

6 400/220 PGCIL 500 JUL-23
400/220kV ICT at Patiala (PG) S/S
7 1x500MVA 400/220kV ICT at Kochi SS 400/220 PGCIL 500 JUL-23
8 1x500 MVA 400/220 kV ICT (3rd) at Sohawal (PG) 400/220 PGCIL 500 JUN-23
Replacement of 1x250 MVA 400/220 kV ICT at 765/400/220 kV Moga

9 (PG) S/s with 1x500 MVA 400/220 PGCIL 250 MAY-23
400/220kV ICT
Replacement of 1x315 MVA 400/220kV ICT (ICT-1) at 400/220 kV

10 400/220 PGCIL 185 MAY-23
Ludhiana (PG) S/s with 1x500 MVA
Source: Central Electricity Authority (CEA
SUMMARY

1x500MVA 400/220kB ICT(7th) at Bhadla-II SS

11 400/220 PGCIL 500 MAY-23
under Transmission system strengthening
12 1x500MVA 400/220kV ICT (3rd) at Ranchi (PG) S/S 400/220 PGCIL 500 MAY-23
Extension 765/400/220kV Bhadla-II PS (500MVA

13 400/220 PGCIL 500 MAY-23
ICT- 5th)(Out of which 3 commissioned)
1x 500MVA 400/220kV ICT (2nd) at Fatehgarh-III (Ramgarh-II) under

14 400/220 PGCIL 500 OCT-23
phase-II- Part A
1x 500MVA 400/220kV ICT (3rd) at Fatehgarh-III (Ramgarh-II) under

15 400/220 PGCIL 500 OCT-23
phase-II- Part A
16 1x 500MVA 400/220kV ICT (1st) at Fatehgarh-III (Ramgarh-II) 400/220 PGCIL 500 SEP-23
17 1x500MVA 400/220kV ICT (3rd) at Bhatapara (PG) 400/220 PGCIL 500 SEP-23
18 Guddigudem SS (LIS) (2x315 MVA) 400/220/11 APTRANSCO 630 APR-23
19 Aug. at Jammalamadugu 400/220 APTRANSCO 500 APR-23
20 Hindupur (ICT 3rd ) 400/220 APTRANSCO 315 MAY-23
SUMMARY

21 Kottayam (T/F - II) 400/220 KSEB 315 AUG-23
22 Kottayam (T/F - I) 400/220 KSEB 315 MAY-23
23 Kirnapur Addl. T/F 400/132 MPPTCL 100 OCT-23
24 New Koyna (Aug) (3x105 MVA) 400/220 MSETCL 315 MAY-23
25 Nakodar (Aug .of 1x315 MVA T/F 1 with 1x500 MVA T/F) 400/220 PSTCL 185 JUN-23
26 Vellalaviduthi (2X315 ) 400/230 TANTRANSCO 315 OCT-23
27 400KV Veltoor Substation 400/220 TSTRANSCO 185 AUG-23
28 Sultanpur (Capacity Aug.) T/F-III 400/220 UPPTCL 315 MAY-23
29 Rasra Ballia (New (T/F-II ) 400/220 UPPTCL 500 OCT-23
30 Durgapur 400KV SS Tr. Aug. 400/220 WBSETCL 315 AUG-23
Source: Central Electricity Authority (CEA
SUMMARY

31 2x500MVA (400/230 kV) Karur Pooling Station 400/230 ADANI 1000 OCT-23
32 3 x 500 MVA ICT GIS Buildings at Vikhroli 400/220 ADANI 1500 OCT-23
33 Koppal (PS) 400/220 RENEW 1500 OCT-23
34 220/132 kV Transformer (3rd) at Salakati (NERSS- XI) 220/132 PGCIL 100 SEP-23
35 Bavojipeta 220/33 APTRANSCO 50 APR-23
36 Piduguralla (Upgradation) 220/132 APTRANSCO 160 JUN-23
37 33KV features at existing 220/11KV Pattiseema LIS 220/33 APTRANSCO 50 JUN-23
38 Raxaul (New) s/s (T/F I) 220/132 BSPTCL 200 JUL-23
39 220KV Karamsad 220/66 GETCO 110 OCT-23
40 220KV Dhuvaran 220/132 GETCO 50 OCT-23
SUMMARY

41 220 kV Raiwali 220/66 HVPNL 100 OCT-23
42 220/33 Bastara s/s 220/33 HVPNL 100 OCT-23
43 Srinivasapura s/s 220/66 KPTCL 200 OCT-23
44 220kV GSS Pindwara 220/132 RVPNL 100 OCT-23
45 Kirawali Agra (New) T/F- II 220/132 UPPTCL 100 OCT-23
46 Bhadohi S/S (T/F - I) 220/132 UPPTCL 200 OCT-23
47 Thirupathur 230/110 KV (Second 100 MVA ICT) 230/110 TANTRANSCO 100 OCT-23
48 Singapuram S/S (ICT-II) 230/110 TANTRANSCO 100 OCT-23
49 Nokia 230kV (1x100 to 2x100) 230/110 TANTRANSCO 100 OCT-23
50 Kits Park 230/110 KV SS (1x80 to 1x100) 230/110 TANTRANSCO 20 OCT-23
6 COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles* (Overview, Business Segments, Financials**, Relevant
Products and Services, and Recent Developments)
#TOC_DIVIDER#
SUMMARY
6.1 MERGERS, ACQUISITIONS, JOINT VENTURES, COLLABORATIONS AND AGREEMENTS

DATE TYPE OF KEY DEVELOPMENT DETAILS
Tata Power Delhi Distribution Ltd, a leading power utility supplying electricity to a population of seven million in North Delhi, and
November 2023 Collaboration the Power Sector Skill Council (PSSC) signed a Memorandum of Understanding (MoU) to jointly spearhead skill development
training capacity-building programs for the power distribution sector in India and abroad.
India and Saudi Arabia signed an agreement on enhanced cooperation in the energy sector. Through this agreement, India is
September 2023 Agreement trying to diversify its energy basket while Saudi Arabia seeks to reduce its overdependence on oil significantly by 2030. The MoU
also paves the way for greater cooperation between energy sector companies in India and Saudi Arabia.
Ayana Renewable Power signed a Power Purchase Agreement (PPA) with Hindalco Industries, the metals flagship company of the
September 2023 Agreement Aditya Birla Group. Under the agreement, Ayana Renewable Power will be supplying 100 MW of Round-the-Clock (RTC)
renewable energy to Hindalco Industries' smelter plants in Odisha.
The Tata Power Renewable Energy Ltd. (TPREL) subsidiary of Tata Power signed two power purchase agreements with MSEDCL
August 2023 Agreement for the commissioning of two solar projects of 200 MW and 150 MW capacities. The two solar project installations are likely to be
commissioned by mid-2025 and are expected to generate clean energy per year.
IndiGrid, India’s power sector Infrastructure Investment Trust (InvIT), signed a definitive agreement to acquire all the units of
Virescent Renewable Energy Trust (VRET), India’s renewable energy infrastructure investment trust, along with its investment
May 2023 Acquisition
manager and project manager, for an enterprise value amounting to INR 40 billion. Post-acquisition, IndiGrid’s overall solar assets
portfolio will reach 674 MWp.
JSW Energy completed the acquisition of 1,753 MW of renewable energy generation capacity held by Mytrah Energy, a renewable
energy company operating in India. The transaction, at an enterprise valuation of around INR 101.5 Billion, is JSW Energy’s largest
March 2023 Acquisition
acquisition yet. The acquisition of Mytrah assets will increase JSW’s current operational capacity by approximately 36% from
4,811 MW to 6,564 MW.
Source: Company Website
SUMMARY
6.2 STRATEGIES ADOPTED BY LEADING PLAYERS
NTPC LTD. NTPC LTD.

• NTPC (National Thermal Power Corporation) Ltd, along with its subsidiaries/ associates & JVs, is • In September 2023, NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of India’s
primarily involved in the generation and sale of bulk power to State power utilities. Other businesses leading integrated power producer NTPC Limited, and Nayara Energy, a new-age international
of the group include providing consultancy, project management and supervision, energy trading, oil downstream Energy Company of International scale, have entered into a Memorandum of
and gas exploration, and coal mining. Understanding (MoU) to explore opportunities in the Green Hydrogen and Green Energy
space. The collaboration is in line with NTPC's initiatives to develop hydrogen projects in India
• As of 2022, the company’s total installed capacity is 73,874 MW (including JVs). Own stations include and aligns with the vision of a self-reliant India (Atmanirbhar Bharat) as laid out by the Indian
26 coal-based, seven gas-based, 1 Hydro, 15 Solar, and 1 Small hydro project. Under JVs and government.
Subsidiaries, NTPC has nine coal-based, four gas-based, eight hydro and 19 renewable energy
projects. During the FY 2022-23, your Company recorded an all time high-power generation of 399.2 • The company is highly inclined towards Research and Development and focuses on
BU, registering a growth of 11%. collaborating with leading institutes, technology players, and service providers, particularly in
the area of power plant construction, generation technology, operations, renewable energy
• The company aims to achieve 60 GW of RE capacity by 2032, aligning with the government’s climate sources, storage, e-mobility, etc., that can contribute towards efficiency, reliability and
change objectives. NTPC is implementing strategies for coal plants to operate at minimum load and environmental friendliness.
integrating them with renewable energy and battery storage to enhance flexibility.
• Thus, on the basis of the above-mentioned points, the company is expected to witness positive
• Moreover, NTPC is implementing various measures to accelerate the adoption of digitalization across growth in the focused market during the forecast period.
different functions and verticals of the company. In addition, projects are also being undertaken for
the adoption of Robotic Process Automation (RPA), Artificial Intelligence (AI), and Machine Learning
(ML) in business processes
• The company is actively working on adding 4.2 GW of nuclear capacity to its portfolio. To reduce the
reliance on conventional fuels, the company decommissioned 1,385 MW of thermal capacity.
Through our initiatives in biomass pellet utilization, solar, and wind power generation, we have
successfully avoided over 14 million tonnes of CO2 equivalent emissions annually.
• Furthermore, NTPC has made substantial investments in the production and utilization of hydrogen
as a clean fuel for power generation in collaboration with prominent organizations like IOCL, Indian
Army, and HPCL.
Source: Mordor Intelligence Analysis

SUMMARY
6.2 STRATEGIES ADOPTED BY LEADING PLAYERS
ADANI GROUP ADANI GROUP

• The Adani Group is an Indian industrial conglomerate encompassing multiple businesses • To support this, APL also acquired four thermal power plants with a combined capacity of
across seven publicly traded companies. The group operates a power business in India 4,370 MW, including a 1,370 MW plant at Raipur in Chhattisgarh, a 600 MW plant at Raigarh
through Adani Power Limited (APL), India’s largest private-sector thermal power producer in in Chhattisgarh, a 1,200 MW plant at Udupi in Karnataka, and a 1,200 MW plant (under
India. subsidiary Mahan Energen Limited) at Bandhaura, Singrauli in Madhya Pradesh.
• Adani Power Limited operates its thermal power plants across multiple states in India, • The Company is also developing a 2x800 MW Ultra supercritical power plant in Madhya
including Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Jharkhand, and Madhya Pradesh, which will supply power to the State under a 1,230 MW (net), 25-year Power Supply
Pradesh. The company’s solar power unit is situated in Gujarat. The company’s power Agreement (PSA) with the Madhya Pradesh Power Management Company Ltd.
generation capacity at the end of FY2022 stood at 16.85 GW, of which 14,450 MW was • Furthermore, Adani Power has been responsive to new technological innovations by adopting
operational, 800 MW was under commissioning / and 1600 MW was under development. them in its operations. The Company has adopted new technologies in various instances,
• During FY 2022-23, APL was engaged in setting up new thermal power generation projects, such as the first supercritical power plant in India and 800 MW unit for power generation and
aiming to achieve a total capacity of 16.85 GW by June 2027. This involves the commissioning various other energy, efficiency, and equipment. The adoption of new technologies and the
of 1.6 GW additional capacity by June 2023 and 1.6 GW by June 2027. Of this, one 800MW promotion of research and development in the electric utilities sector have helped enhance
unit of the Godda USTCPP was commissioned in April 2023, and the second unit awaits environmental sustainability.
commissioning; its Mahan Phase-II expansion project with a capacity of 1600 MW is expected • Additionally, the Company aims to lead India’s initiatives in achieving greenhouse gas
to soon commence execution. reduction targets by evaluating the possibility of the potential implementation of ammonia as
• Moreover, the company expanded its power business by acquiring companies with major a fuel in thermal power generation that could utilize green hydrogen-derived ammonia in
assets across India. For instance, in March 2022, APL acquired Essar Power MP Limited existing thermal power generation.
(EPMPL following the acceptance of its resolution plan under a Corporate Insolvency • Thus, on the basis of the above-mentioned points, the company is expected to be on the
Resolution Process conducted by the National Company Law Tribunal (NCLT). EPMPL’s name higher side in the focused market during the forecast period.
was changed to Mahan Energen Limited (MEL) following the acquisition.
• The government of India’s focus on attaining ‘Power for all’ has accelerated capacity addition
in the country along with the expansion and strengthening of power transmission and
distribution networks.
Source: Mordor Intelligence Analysis

SUMMARY
6.3 COMPANY PROFILES

6.3.1 Adani Group
6.3.2 JSW Holdings limited
6.3.3 NHPC Ltd
6.3.4 NLC India Ltd.
6.3.5 NTPC Ltd.
6.3.6 Power Grid Corporation India Ltd.
6.3.7 Reliance Power Limited
6.3.8 SJVN Ltd.
6.3.9 Tata Power Company Limited
6.3.10 Torrent Power Ltd.
SUMMARY
# Company Established Headquarters Financial Year Global Revenue Employees Key Brands/Products
INR 430.4 Billion

6.3.1 Adani Group 1988 Ahmedabad, India FY2022 23,000 Power generation
(Adani Power Ltd)
INR 406.76 Crore (JSW

6.3.2 JSW Holdings Limited 1982 Mumbai, India FY2022 40,000 Power generation
Energy Ltd)
Sale Of Electricity
6.3.3 NHPC Ltd 1975 Haryana, India FY2023 INR 3299 Crore 4776 Power Trading & Contracts, Project Management And Consultancy
Works
6.3.4 NLC India Ltd. 1956 Tamil Nadu, India FY2022 INR 129.55 Billion 26,619 Mining, Power Generation
6.3.5 NTPC Ltd. 1975 New Delhi, India FY2022 INR 1677.24 Billion 15,159 Power Generation
SUMMARY
# Company Established Headquarters Financial Year Global Revenue Employees Key Brands/Products
Power Grid Corporation India

6.3.6 1989 Gurugram, India FY2022 INR 125.6 Billion 40,000 Power Transmission solutions
Ltd.
6.3.7 Reliance Power Limited 1995 Mumbai, India FY2023 INR 7883 Crore 1305 Electricity Generation
6.3.8 SJVN Ltd. 1998 Himachal Pradesh, India FY2023 INR 3298.84 Crore 1222 Electricity Generation
Power Generation
6.3.9 Tata Power Company Limited 1915 Delhi, India FY2023 INR 56,033 Crore 23,025
Transmission And Distribution Of Power
6.3.10 Torrent Power Ltd. 1996 Ahmedabad, India FY2023 INR 256.94 Billion 8,113 Power Generation
SUMMARY
6.3.1 ADANI GROUP
CORE BUSINESS SEGMENT

430.4 billion ENERGY AND UTILITIES
Revenue in INR
TRANSPORTATION AND LOGISTICS
2022 - 2023 (All Segments)
INCUBATION
The financial year ended in March 2023 (All Segments)
AIRPORTS MATERIALS
www.adani.com
GLOBAL OVERVIEW
Adani Group is a multinational company that established ~ 23,000
itself as the industry leader in its transport logistics and Employees (2022)
power utility portfolio businesses, with a focus on large-
scale infrastructure development in India. Adani Power is a
subsidiary of the Adani Group that operates and manages
thermal and solar power operations.
The company has an overall generation capacity of 15,250 1988

MW, which includes thermal power stations in Gujarat, Founded
Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya
Pradesh, and Jharkhand, in addition to a 40 MW solar
power project in Gujarat. Furthermore, the company was
the first in the world to establish a coal-based Supercritical
thermal power project established under the Kyoto
Protocol's Clean Development Mechanism (CDM). Ahmedabad, India
Headquarters
Source: Annual Report
SUMMARY
6.3.1 ADANI GROUP - MARKET OVERVIEW
CORE SOLUTIONS AND PRODUCT OFFERINGS ENERGY & POWER GREEN ENERGY
The company offers energy and power from renewable
sources like solar and thermal as well as non-renewable
sources like coal. The group has two subsidiaries, Adani MARKET SEGMENT COMPANY VERTICAL
power and Adani green.
COMPANY HIGHLIGHTS KEY INFORMATION
In July 2023, The Adani Group launched India's first In May 2023, Adani Wind Energy completed the construction
multinational power project. Adani Power Jharkhand Ltd of a 130 MW wind power plant in Kutchh, Gujarat. AGEL's
(APJL) has completed the Godda plant's dependable capacity current wind energy production has increased to 1,101 MW
test. As per the power purchase agreement signed with the with the successful commissioning of this plant, bringing the
Bangladesh Power Development Board, Godda Plant will total operational renewable generation capacity to 8,216
supply 1,496 MW. MW.
Source: Company website
SUMMARY
6.3.1 ADANI GROUP – FINANCIALS (ADANI POWER LTD)

NET SALES IN INR BILLION, 2020-2022
500.00
430.41
400.00
316.86
281.50
300.00
200.00
100.00
0.00
FY 2020 FY 2021 FY 2022
ADANI POWER LTD, REVENUE IN %, BY BUSINESS SEGMENT, FY 2022
2.3%
Power Generation and

related activities
Trading, Investment and

other activities
97.7%
Source: Annual Report 2022
SUMMARY
6.3.1 ADANI GROUP – KEY PROJECTS

Operational Power Plants
MUNDRA POWER PLANTS :
Plant Details – The plant has a capacity of 4620 MW and is made up of 9 units, 4 of which are 330 MW
and 5 of which are 660 MW. The 330 MW units use subcritical technology, while the 660 MW units use
supercritical technology.
Power Evacuation - Adani Power built two power lines. The transmission line that carries 1000 MW
across Mundra to Dehegam in Gujarat is 433 km long and operates at 400 KV. Furthermore, there is a 989
km long 500 KV high voltage direct current (HVDC) bipole line that can carry 2500 MW from Mundra to
Mohindergarh in Haryana.
TIRODA POWER PLANTS :

Plant Details – This supercritical thermal power plant uses coal and runs at 571 degrees Celsius with a
pressure of 254 kg/cm^2. The TG is a tandem compound generating unit with three cylinders, four
exhausts, a condensing reheating turbine, static excitation, and hydrogen cooling. Its DEH system was
installed and designed to provide high operating efficiencies, optimal reliability, and smooth operation.
Power Evacuation - The plant, which has a long-term power purchase agreement (PPA) with Maharashtra
State for 3085 MW, is evacuated via two transmission lines, one measuring 630 km and the other 400 KV
double circuit Tirora-Warora and Tiroda-Aurangabad.
SUMMARY
6.3.1 ADANI GROUP – KEY PROJECTS

Operational Power Plants
KAWAI POWER PLANTS :
Plant Details Adani Power Rajasthan Limited (APRL) is Rajasthan's largest power producer plant, with a
generation capability of 1320 MW (2X660 MW). It is a supercritical coal-fired thermal power plant.
UDUPI POWER PLANTS :

Plant Details – A thermal-type condensing steam turbine and generator, along with a sea water-cooled
condenser and all other necessary auxiliaries, are connected to a single subcritical coal-fired steam
generator in each 600 MW unit. The primary stream pressure of 170 kg/cm2 (a) and the inlet
temperature of 537°C would be the turbine's design parameters.
Power Evacuation - At two different voltages—220 KV and 400 KV—the generated power is evacuated.
From UPCL plant to the substation at Kemar, which is 25 km away, KPTCL has already put the 220 KV
transmission lines into service. As of right now, KPTCL is building a 400 KV transmission line that connects
the UPCL plant to the PGCIL substation in Hassan, which is 180 km away.
SUMMARY
6.3.2 JSW GROUP

108.67 Billion
ENERGY
Revenue in INR
INFRASTRUCTURE
CEMENT
The financial year ended in March 2023 (All Segments)
JSW TECHNO PROJECTS MANAGEMENT LIMITED
www.jsw.in
JSW PROJECTS LIMITED
GLOBAL OVERVIEW
JSW Group is a multinational company and one of India's
~ 40,000
leading business corporations. JSW's innovative and long- Employees (2022)
term presence in industries such as steel, energy,
infrastructure, cement, paints, venture capital, and sports.
JSW Energy Limited is a subsidiary of the JSW Group. The
company engaged in power generation, transmits, and
trades electricity.
1982
The company currently generates 6,677 MW, with 3,158 Founded
MW of thermal power, 1,391 MW of hydropower, 1,461
MW of wind power, and 667 MW of solar power. JSWPTC
has been granted a category "IV" license by the Central
Electricity Regulatory Commission for the trading of power
in India.
Mumbai, India
Headquarters
SUMMARY
6.3.2 JSW GROUP - MARKET OVERVIEW
The company offers energy and power from renewable
sources of energy like thermal, solar, and hydro. The
company currently has a lot of projects in the thermal source MARKET SEGMENT COMPANY VERTICAL
of energy.
As of March 2023, The company has a lot of Under- In August 2022, The company acquired 1,753 MW of
construction projects that will generate 3,206 MW, including renewable energy capacity from Mytrah Energy. The Mytrah
Wind 2,266 MW, Thermal 700 MW, and Hydro 240 MW of network includes ten wind SPVs with a total capacity of 1,331
power. These projects will be commissioned by 2024. MW and seven solar SPVs with a total capability of 422 MW
(487 MWp DC), with operations primarily in India's southern,
western, and central regions.
SUMMARY
6.3.2 JSW GROUP – FINANCIALS (JSW ENERGY LTD)

NET SALES IN INR BILLION, 2020-2022
120.00 108.67
100.00 87.36
80.00 71.60
60.00
40.00
20.00
0.00
FY 2020 FY 2021 FY 2022
JSW ENERGY LTD, REVENUE IN %, BY BUSINESS SEGMENT, 2022
2.2%
14.4% Thermal
Renewables
Unallocated
83.4%
SUMMARY
6.3.2 JSW GROUP – KEY PROJECTS

Thermal Power Plant
RATNAGIRI PLANT :
Plant Details – The plant consists of four 300MW units that run on imported coal. The plant generates
electricity for the Maharashtra State Electricity Distribution Organization. The generated power is
transmitted via the Jaigad PowerTransco Ltd., a JSW Energy joint venture that manages an intra-state
transmission network.03:13 PM
VIJAYNAGAR PLANT :
Plant Details –This plant is made up of two separate business units with a total capacity of 860 MW. The
first unit, SBU 1, consists of two 130MW units that have become benchmarks for the Indian energy
industry, and the second unit, BU II, consists of two 300MW units.
SUMMARY

Renewable Energy
KARCHAM WANGTOO PLANT :

Plant Details – The Karcham Wangtoo has a 1091MW generating capacity. The concrete gravity dam used
to generate power is 88 meters tall, 53 meters below the riverbed level. The pressure chambers of the
plant feed four 250MW generating units installed in an underground powerhouse at Wangtoo. The
project includes 44.60 kilometers of tunneling in Himalayan geology.
BASPA PLANT :
Plant Details – The Baspa Plant, located in the Himalayan foothills, has a generating capacity of 300 MW.
In a 90% reliable year, its estimated generation capacity is 1213 GWh. The underground powerhouse of
the plant houses three 100 MW Pelton turbine-generating units. A 400 KV transmission line with two
circuits feeds into the Jhakri substation.
SUMMARY

Renewable Energy
VIJAYANAGAR SOLAR POWER PLANT-

PLANT Details – JSW Energy's primary utility-scale solar power plant, Vijayanagar Solar Power Plant, is
located near JSW Steel's Vijayanagar plant and has a 225MW generating capacity. The solar plant was set
up in a safe manner, in accordance with all JSW Group EHS standards, and without any Loss of Time Injury
(LTI).
SUMMARY
6.3.3 NHPC LIMITED
KEY PRODUCT OFFERINGS

INR 10.150.9 crores SALE OF ELECTRICITY
Global revenue in INR POWER TRADING & CONTRACTS, PROJECT MANAGEMENT
2023 (All Segments) AND CONSULTANCY WORKS
FY 2023 Ended on March 31, 2023

www.nhpcindia.com
GLOBAL OVERVIEW
NHPC Limited is an Indian Government owned

~4776
hydroelectric power generation company that deals in As of March 2023
operating, developing, and supplying electric power to the
nation’s grid. The organization was formerly known as
National Hydroelectric Power Corporation Ltd. It was
incorporated under the Indian Companies Act, 1956.
The NHPC also has a portfolio in the field of Solar and 1975
wind energy development, etc. The company is a Schedule Founded
A, Public Sector Undertaking company with the status of
Mini Ratna.
Faridabad, Haryana, India

Headquarters
SUMMARY
6.3.3 NHPC LIMITED- MARKET OVERVIEW
CORE SOLUTIONS AND PRODUCT OFFERINGS INDIA POWER MARKET POWER MARKET
The company is in the core business of developing

hydropower, solar power, wind power, and thermal
MARKET SEGMENT COMPANY VERTICAL
power, producing power plants, and then selling the
electricity produced.

In November 2023, NHPC Limited announced that it had won
NHPC Limited's total installed capacity as of September 2023 the prestigious The Economic Times HR World Exceptional
was 7097.20 megawatts, including 1546 megawatts in JVs, Employee Experience Award 2023 (ET HR WORLD EX Awards)
comprising 6971.20 megawatts from 22 hydropower stations, in the “Large Scale Enterprise” category.
76 MW from two solar power projects, and 50 MW from
wind power projects. NHPC's hydro share of 6971.20 MW
came to about 14.88% of India’s total installed hydro capacity
of 46850.18 megawatts.
SUMMARY
6.3.3 NHPC LIMITED- FINANCIALS

NHPC LIMITED, REVENUE IN INR CRORES, 2021-2023
3213 3299
2626
FY 2021 FY 2022 FY 2023
REVENUE BREAKDOWN IN PERCENTAGE%, BY OPERATING SEGMENT, 2022
1.9%
8.2% SALE OF ELECTRICITY
POWER TRADING & CONTRACTS, PROJECT

MANAGEMENT AND CONSULTANCY WORKS
OTHER
89.9%
SUMMARY
6.3.3 NHPC LIMITED- PROJECTS
S.No. Projects under Operation Location Location Capacity (in MW)
1 Baira Siul Himachal Pradesh 180
2 Loktak Manipur 105
3 Salal Hydropower UT of Jammu & Kashmir 690
4 Tanakpur Uttarakhand 94.2
5 Chamera – I Himachal Pradesh 540
6 Uri – I UT of Jammu & Kashmir 480
SUMMARY
6.3.3 NHPC LIMITED - PROJECTS
1 Rangit Sikkim 60
2 Chamera – II Himachal Pradesh 300
3 Indira Sagar (JV) Madhya Pradesh 1000
4 Dhauliganga Uttarakhand 280
5 Dulhasti UT of Jammu & Kashmir 390
6 Omkareshwar (JV) Madhya Pradesh 520
SUMMARY
6.3.3 NHPC LIMITED - PROJECTS
1 Teesta - V Sikkim 510
2 Sewa – II UT of Jammu & Kashmir 120
3 Chamera-III Himachal Pradesh 231
4 Teesta Low Dam - III West Bengal 132
5 Nimmo-Bazgo UT of Ladakh 45
6 Parbati - III Himachal Pradesh 520
SUMMARY
6.3.4 NLC INDIA LTD

INR 129.55 billion MINING
Revenue POWER GENERATION
FY2022 (All Segments)
FY2022 Ended on March 31, 2023
www.nlcindia.in/new_website/index.htm
GLOBAL OVERVIEW
26,619
NLC India Ltd (NLC), a Government of India Enterprise, is a
mining and power generation company. Number of Employees (As of 31st March 2023)
It operates opencast lignite mines and produces electricity
using lignite and coal and from renewable sources such as
wind and solar sources. NLCIL operates 3 opencast Lignite
Mines with a total installed capacity of 28 million tonnes 1956
per annum (MTPA). NLCIL is a Navratna Government of
India Enterprise under the administrative control of the Founded
Ministry of Coal. The company has set its footprints in PAN
India mode in the states of Tamil Nadu, Rajasthan, Uttar
Pradesh, Odisha, Jharkhand, and Andaman and Nicobar
Islands.
Tamil Nadu, India
Headquarters
SUMMARY
6.3.4 NLC INDIA LTD - MARKET OVERVIEW
CORE SOLUTIONS AND PRODUCT OFFERINGS INDIA POWER MARKET POWER GENERATION
The company is involved in the mining operation and power
generation sector across India. The company generates
power through conventional and renewable energy sources. MARKET SEGMENT COMPANY VERTICAL
NLC India has five pithead Thermal Power Stations with an To achieve the ambitious Corporate plan of the company, it is
aggregate capacity of 3640 MW. Further, NLC India has implementing 510 MW solar projects under the CPSU scheme
installed a 51 MW Wind Power plant, commissioned a in three ways, i.e., a 10 MW Solar Project at Neyveli, a 300
1350.06 MW Solar Photo Voltaic Power plant in Tamil Nadu, MW Solar project at Rajasthan, and 200 MW Solar project on
and also commissioned a 20 MW Solar Plant in Andaman & a pan Indian basis.
Nicobar islands, resulting in an overall power generating
capacity of 5061.06 MW (excl. JVs).
SUMMARY
6.3.4 NLC INDIA LTD – FINANCIALS

REVENUE, IN INR BILLION, FY2020 - FY2022
140 129.55
120
98.56
100
80 72.49
60
40
20
0
FY2020 FY2021 FY2022
REVENUE BREAKDOWN BY OPERATING SEGMENT, IN%, FY2022
42.35%
Mining Power Generation

57.65%
Source: Annual Report 2022-23 Note: Includes the revenue accounting for Inter Segment Sales equivalent to INR 58.91 Billion
SUMMARY
6.3.4 NLC INDIA LTD - RELEVANT PROJECTS

THERMAL POWER PLANT PROJECTS
S.No. Unit Fuel type Capacity (MW) Location
1 TPS II Lignite 1,470 Neyveli Cuddalore, Tamil Nadu
2 TPS I Expansion Lignite 420 Neyveli Cuddalore, Tamil Nadu
3 NTPL (JV) Coal 1000 Harbour Estate, Tuticorin, Tamil Nadu
4 BTPS Lignite 250 Barsingsar, Bikaner district, Rajasthan
5 NUPPL (JV) Coal 1980 (Under Construction) Ghatampur Tehsil, Kanpur Nagar district, Uttar Pradesh
6 TPS II Expansion Lignite 500 Neyveli Cuddalore, Tamil Nadu
7 NNTPP Lignite 1000 Neyveli Cuddalore, Tamil Nadu
Kumbhari & Tareikela villages in Jasuguda district &

8 NNTPP Coal 2400 (in Tendering Stage)
Thelkolai village in Sambalpur district
TPS II 2nd Expansion

9 Lignite 1320 (At Initial Stage) Neyveli Cuddalore, Tamil Nadu
Kumbhari & Tareikela villages in Jasuguda district &

10 NTTPP [Phase II] Coal 800 (Under Formulation)
Thelkolai village in Sambalpur district
SUMMARY
6.3.4 NLC INDIA LTD – RECENT DEVELOPMENTS

NLCIL issued a Letter of Agreement for the establishment/ development of a 300 MW Solar Project at Barsingsar. Work on this
August 2023 New Project project has commenced, and consent from RUVNL for the purchase of 300 MW CPSU solar power was obtained on 23rd August
2022.
NLCIL and APDCL entered into a memorandum of understanding (MoU) to establish a joint venture with a 51:49 equity structure.
This partnership aims to generate power in Assam through renewable energy sources, focusing on solar, wind, and hydropower
August 2022 Partnership
projects. The joint venture will N
also handle the operation and maintenance of these renewable power projects. The ultimate goal
is to supply power to APDCL, State DISCOMs/ Utilities, and other consumers in accordance with specified agreements.
SUMMARY
6.3.5 NTPC LTD

INR 1677.24 billion
ENERGY GENERATION
Revenue in INR CONSULTANCY
FY2022 (All Segments) PROJECT MANAGEMENT & SUPERVISION
FY2022 ended on March 31st , 2023 ENERGY TRADING
www.ntpc.co.in
OIL AND GAS EXPLORATION AND
GLOBAL OVERVIEW COAL MINING
NTPC is an Indian energy conglomerate that accelerates
15,159
power development in India with a presence in the Number of Employees (As of 31st March 2023)
complete value chain of the power generation business.
From fossil fuels, the company has forayed into generating

electricity via nuclear, hydro, and renewable energy
sources. To strengthen its core business, the corporation
has diversified into the fields of power trading, 1975
consultancy, power professional training, rural Founded
electrification, ash utilization, and coal mining.
New Delhi, India

Headquarters
SUMMARY
6.3.5 NTPC LTD - MARKET OVERVIEW
CORE SOLUTIONS AND PRODUCT OFFERINGS INDIA POWER MARKET ENERGY GENERATION
The company owns power stations that include 26 coal-
based, seven gas-based, one hydro, 15 solar, and one small-
hydro project. Under JVs and Subsidiaries, NTPC has nine MARKET SEGMENT COMPANY VERTICAL
coal-based, four gas-based, eight hydro-based, and 19
renewable energy projects.
As of 2022, NTPC is India’s largest power utility with an In April 2023, NTPC Ltd registered the highest-ever power
installed capacity of 73,824 MW (including JVs) and plans to generation of 400 BU in 2022-23, a growth of 10.80%
become a 130 GW company by 2032. compared to the previous year.
SUMMARY
6.3.5 NTPC LTD - FINANCIALS
NTPC LTD, REVENUE IN INR BILLION, FY2020 – FY 2022
1800 1677.24
1600
1400 1247.49
1200 1035.52
1000
800
600
400
200
0
FY2020 FY2021 FY2022
NOTE: Fiscal Year Ended on 31st March 2023

NTPC LTD, REVENUE BREAKDOWN (%), BY SEGMENT, FY2022
4.7%
Generation of Energy Others
95.3%
Source: Annual Report 2022/23

NOTE: For FY2022, the figure excludes revenue accounting for Intersegment elimination equivalent to INR 39.90 Billion
SUMMARY
6.3.5 NTPC LTD – RELEVANT PROJECTS

NTPC OWNED COMMISSIONED SOLAR ENERGY PLANTS PROJECTS
Sr. No. PROJECT STATE/ UT CAPACITY (MW)
1. Auraiya Uttar Pradesh 20
2. Auraiya FS Uttar Pradesh 20
3. Dadri Uttar Pradesh 5
4. Faridabad Haryana 5
5. Gandhar Gujarat 20
6. Kawas Gujarat 56
7. Kayamkulam FS Kerala 92
8. Port Blair Andaman & Nicobar Islands 5
9. Ramagundam Telangana 10
10. Ramagundam FS Telangana 100
11. Simhadri FS Andhra Pradesh 25
12. Singrauli Uttar Pradesh 15
13. Solapur Maharashtra 10
14. Talcher Kaniha Odisha 10
15. Unchahar Uttar Pradesh 10
SUMMARY
6.3.5 NTPC LTD - RELEVANT PROJECTS
NTPC OWNED RENEWABLE ENERGY PROJECTS UNDER IMPLEMENTATION
Sr. No. PROJECT STATE/ UT SOLAR/WIND CAPACITY (MW)
1. Anta Rajasthan Solar 90
2. Nokhra Rajasthan Solar 735
3. Rihand Uttar Pradesh Solar 20
4. Solapur Maharashtra Solar 13
SUMMARY

NTPC JOINT VENTURES/SUBSIDIARIES OPERATIONAL SOLAR ENERGY PROJECTS
1. Ananthpur (NGEL) Andhra Pradesh 250
2. Bhadla (NGEL) Rajasthan 260
3. Bilhaur (NGEL) Uttar Pradesh 225
4. Devikot (NGEL) Rajasthan 240
5. Ettayapuram (NGEL) Tamil Nadu 230
6. Fatehgarh (NGEL) Rajasthan 296
7. Jetsar (NGEL) Rajasthan 160
8. Kasargod (NGEL) Kerala 50
9. Mandsaur (NGEL) Madhya Pradesh 250
10. Nokhra(NGEL) Rajasthan 300
11. Rajgarh (NGEL) Madhya Pradesh 50
12. Shimbhu Ki Burj-1(NGEL) Rajasthan 250
13. Shimbhu Ki Burj-2 (NGEL) Rajasthan 150
14. Tripura (NEEPCO) Tripura 5

SUMMARY
NTPC JOINT VENTURES/ SUBSIDIARIES OPERATIONAL WIND ENERGY PROJECTS
1 Dayapar- I (NREL) Gujarat 50
2 Dwarka (THDC) Gujarat 63
3 Patan (THDC) Gujarat 50
4 Rojmal (NGEL) Gujarat 50
SUMMARY

NTPC OWNED OPERATIONAL COAL BASED POWER STATAIONS PROJECTS
1. Barauni Bihar 720
2. Barh Bihar 2640
3. Bongaigaon Assam 750
4. Dadri Uttar Pradesh 1,820
5. Darlipali Odisha 1600
6. Farakka West Bengal 2,100
7. Feroze Gandhi, Unchahar Uttar Pradesh 1,550
8. Gadarwara Madhya Pradesh 1600
9. Kahalgaon Bihar 2,340
10. Kanti Bihar 390
11. Khargone Madhya Pradesh 1,320
12. Korba Chhattisgarh 2,600
13. Kudgi Karnataka 2,400
14. Lara Chhattisgarh 1,600

SUMMARY

NTPC OWNED OPERATIONAL COAL BASED POWER STATAIONS PROJECTS
15. Mouda Maharashtra 2,320
16. Nabinagar-NPGC Bihar 1,980
17. North Karanpura Jharkhand 660
18. Ramagundam Telangana 2,600
19. Rihand Uttar Pradesh 3,000
20. Simhadri Andhra Pradesh 2,000
21. Singrauli Uttar Pradesh 2,000
22. Sipat Chhattisgarh 2,980
23. Solarpur Maharashtra 1320
24. Talcher Kaniha Orissa 3,000
25. Tanda Uttar Pradesh 1,760
26. Telangana Telangana 800
27. Vindhyachal Madhya Pradesh 4,760

SUMMARY
6.3.5 NTPC LTD – RECENT DEVELOPMENTS

The Indian government inaugurated the first 800 MW Unit of the Telangana Super Thermal Power Project of NTPC at a program in
October 2023 New Project Nizamabad, Telangana. Also, the second unit of the project would start operations soon. Once the second phase is completed, the
total installed capacity of the project will be increased to 4000 MW. This project is the most modern power plant of NTPC in India.
NTPC signed an MoA with Engineers India Limited (EIL) wherein NETRA (the R&D center of NTPC Ltd.) can take up collaborative
projects in the domain of Carbon Capture Utilization and Storage (CCUS), Green Fuel, Green Chemicals including green hydrogen,
October 2023 Agreement N fertilizers, bio-fuels, decarbonization, waste handling, water, ash, etc., leading to clean energy
green ammonia, etc., and green
transition.
NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of NTPC, and ONGC signed an MoU for the development of
renewable energy and offshore wind power in line with GOI’s commitments on Energy Transition. The MoU envisages
September 2023 Agreement
collaboration in various areas of renewable energy in India and overseas, which includes offshore wind projects and exploring
opportunities in storage, e-mobility, carbon credits, green credits, green hydrogen business, and its derivatives.
SUMMARY
6.3.6 POWER GRID CORPORATION OF INDIA LTD

INR 125.6 billion
TRANSMISSION
Revenue
CONSULTANCY
TELECOM
The Financial Year Ended in March 2023 (All Segments)
www.powergrid.in
GLOBAL OVERVIEW
Power Grid Corporation of India Limited, a public sector
~ 40,000
enterprise of the Government of India, is primarily Employees (2022)
engaged in power transmission via its Extra High Voltage
Alternating Current Transmission line (EHVAC) or high-
voltage Direct Current (HVDC) transmission network.
POWERGRID offers solutions in the transmission,

distribution, and telecommunications sectors, such as
1989
system research, construction, engineering, load dispatch, Founded
OPGW on intra-state transmission networks, procurement
administration, operational and maintenance, and project
management.
The company has 41 subsidiaries in the transmission,

telecom, and energy businesses all over the country.
Gurugram, India
Headquarters
SUMMARY
6.3.6 POWER GRID CORPORATION OF INDIA LTD - MARKET OVERVIEW
The company offers power transmission solutions and takes
continuous action to ensure compliance with authorized
standards in the operation and maintenance of the MARKET SEGMENT COMPANY VERTICAL
transmission resources.

In May 2022, the company acquired Khetri Narela
As of October 2023, the company had 1,76,180 circuit Transmission Ltd through tariff-based competitive bidding
kilometers of transmission lines, 275 substations, and (TBCB). The project includes the construction of a 765 kV Gas
5,14,201 MVA of transformation capacity. Insulated Substation (GIS) in Delhi as well as the installation
of 765 kV D/C Transmission lines that will run through the
states of Rajasthan, Haryana, and Delhi, with each line
capable of transferring approximately 4000 MW of power.
SUMMARY
6.3.6 POWER GRID CORPORATION OF INDIA LTD – FINANCIALS

POWER GRID CORPORATION OF INDIA LTD, NET SALES IN INR BILLION, 2020-2022
130.00
125.57
125.00
120.00
115.00
109.42
110.00 107.05
105.00
100.00
95.00
2020 2021 2022
POWER GRID CORPORATION OF INDIA LTD, REVENUE IN %, BY BUSINESS SEGMENT, 2022
0.1%
Transmission
1.8%
Consultancy
Telecom
98.1%
SUMMARY
6.3.6 POWER GRID CORPORATION OF INDIA LTD – KEY PROJECTS

Completion of Transmission Lines (220KV & above)
Name of Transmission Lines Circuit Type Executing Agency Line Length (cKM) Month of Completion
Bikaner-II PS-Khetri 400kV line (phase II part F) M/C PGCIL 1102 JUN-23
PGCIL JUN-23
Khetri-Bhiwadi 400kV line (Twin HTLS) (PHASE II Part F D/C 251
Removal of LILO of one Ckt. of Bhadla-Bikaner (RVPN) at Bikaner (PG) and Extension of D/C PGCIL JUN-23
68
this LILO section from Bikaner (PG) to Bikaner-PS -Bikaner (PG)
Reconductoring of Kolhapur(PG) - Kolhapur (MSETCL) 400kv D/C line (Ckt-2) under TS D/C PGCIL
40 AUG-23
strengthening beyond Kolhapur for export of power from Solar and Wind Energy
D/C PGCIL
Fatehgarh-III (Ramgarh-II) - Jaisalmer-II (RVPNL 400kV D/C line (Twin HTLS) 100 SEPT-23
LILO of one Ckt. on Monopole of Ataur (WUPPTCL) - Indirapuram (WUPPTCL) D/C Quad D/C PGCIL
21 OCT-23
Moose on Noida under TB -202111 (Mohanlalganj Trans. Ltd. (Intrastate Project UP)
SUMMARY
6.3.7 RELIANCE POWER LIMITED

INR 7882.74 crores
ELECTRICITY GENERATION
Global Revenue
2023 (All Segments)
FY 2023 Ended on 31st March 2023
www.reliancepower.co.in/web/reliance-power/index
GLOBAL OVERVIEW
~1,305
Reliance Power Limited is an Indian power organization that
deals in electric power generation, transmission, and Employees
distribution. The company was formerly known as Reliance
2023
Energy Generation Limited. The company is a part of the
Reliance Group, which operates across multiple sectors,
including telecommunications, financial services, media and
entertainment, infrastructure, and energy. The energy 1995
division of the parent, Reliance Group, is operated through
Reliance Power Limited. Founded
The company develops, constructs, and operates power
projects both in India as well as internationally. The
company, on its own and through its subsidiaries, has a large
portfolio of power generation capacity, both in operation
and under development. Mumbai, India
Headquarters
SUMMARY
6.3.7 RELIANCE POWER LIMITED- MARKET OVERVIEW

Hydropower, Solar power, wind power, and thermal
power electricity-producing power plants.
As of 2023, Reliance Power Limited had close to 6000 In February 2015, Reliance Power Limited announced that
megawatts of operational power generation assets. The the company and the Government of Rajasthan (GoR) signed
projects under development include three coal-fired projects a memorandum of understanding (MoU) to develop 6,000
elsewhere, one gas-fired project, and 12 hydroelectric megawatts of Solar Power Farms in the State of Rajasthan in
projects, with six of them in Arunachal Pradesh, five in India over the period of the next ten years.
Himachal Pradesh, and one in Uttarakhand.
Reliance Power Limited is the world’s first country to
commission 100-megawatt Concentrated Solar Power (Csp)
Plant Based On Compact Linear Fresnel Reflector (Clfr)
Technology, through its subsidiary company Rajasthan Sun
Technique Energy, in Jaisalmer, Rajasthan, India, in 2014.
SUMMARY
6.3.7 RELIANCE POWER LIMITED- FINANCIALS

RELIANCE POWER LIMITED, REVENUE IN INR CRORES, 2021-2023
8,000
7,950 7,934
7,900 7,883
7,850
7,800
7,750
7,700 7,687
7,650
7,600
7,550
FY 2021 FY 2022 FY 2023
SUMMARY
6.3.7 RELIANCE POWER LIMITED- PROJECTS(COAL BASED)
1 Sasan Ultra Mega Power Project Madhya Pradesh 3960, Operational
2 Rosa Phase I Uttar Pradesh 600 MW, Operational
3 Rosa Phase 2 Uttar Pradesh 600 MW, Operational
600 MW, Operational

4 Butibori Power Project Maharashtra
SUMMARY
6.3.7 RELIANCE POWER LIMITED- PROJECTS(GAS BASED)
1 Samalkot Power Project Andhra Pradesh 2400, Under – Construction
2 Reliance Bangladesh LNG Terminal Ltd. Dhaka, Bangladesh 3000 MW, Under- Construction
SUMMARY
6.3.7 RELIANCE POWER LIMITED- PROJECTS(SOLAR POWER)
1 Dhursar Solar Power Plant Rajasthan 40 MW, Operational
2 Rajasthan 125 MW, Operational

Rajasthan Sun Technique CSP Plant
SUMMARY
6.3.7 RELIANCE POWER LIMITED- PROJECTS(HYDROELECTRIC)
1 Tato II Arunachal Pradesh 700 MW, Under – Development
2 Siyom Arunachal Pradesh 1000 MW, Under – Development
3 Urthing Sobla Uttarakhand 400 MW, Under – Development
4 Kalai 2 Maharashtra 1200 MW, Under – Development
SUMMARY
6.3.7 RELIANCE POWER LIMITED- PROJECTS(HYDROELECTRIC)
1 Amulin Arunachal Pradesh 420 MW, Under – Development
2 Emini Arunachal Pradesh 500 MW, Under – Development
3 Shanglin Himachal Pradesh 44 MW, Under – Development
4 Tenling Himachal Pradesh 94 MW, Under – Development
SUMMARY
6.3.8 SJVN LTD.

INR 3298.84 crores ELECTRICITY GENERATION
Global Revenue
2023 (All Segments)
FY 2023 Ended on 31st March 2023
sjvn.nic.in
GLOBAL OVERVIEW
SJVN Limited is an Indian government owned hydroelectric ~1,222
power generation company that deals in operating, Employees
developing, and supplying electric power to the nation’s grid.
The company also develops electric power plants in the fields 2023
of hydropower, thermal power, solar power, and wind
power. The company is a Schedule A, Public Sector
Undertaking company with the status of Mini Ratna.
The company was incorporated on 24th May 1988 as a joint
1998
venture of the Government of Himachal Pradesh (GOHP) and Founded
the Government of India (GOI).
The company operates through its four subsidiaries, SJVN
Arun -3 Power Development Company Pvt. Ltd. (SAPDC),
SJVN Lower Arun Power Development Company Private
Limited (SLPDC), SJVN Thermal Private Limited (STPL), and
SJVN Green Energy Limited (SGEL). Shimla, Himachal Pradesh, India
Headquarters
SUMMARY
6.3.8 SJVN LIMITED- MARKET OVERVIEW

hydropower, solar power, wind power, and thermal
power electricity producing power plants.electricity-
producing
SJVN Limited is presently implementing or operating power SJVN Limited owns and operates India’s largest 1500
projects in Bihar, Uttarakhand, Uttar Pradesh, Punjab, Megawatt Nathpa Jhakri Hydro Power Station in Himachal
Gujarat, Arunachal Pradesh, Rajasthan, Assam, Odisha, Pradesh, which was the company's single project and
Mizoram, Himachal Pradesh, Maharashtra, and Madhya Himachal Pradesh State's single operation project.
Pradesh in India, besides neighboring countries of Nepal.
SJVN Limited aims to be a 5000-megawatt company by 2023-
24, a 25000-megawatt company by 2030, and a 50000-
megawatt company by 2040. In 2023, the total project
portfolio of SJVN is 58,145 Megawatt, out of which 2091.5
MW is under operation, 4438 MW is under construction,
12998 MW is under pre-construction, and the S&I stage.
SUMMARY
6.3.8 SJVN LIMITED- FINANCIALS

SJVN LIMITED, REVENUE IN INR CRORE, 2021-2023
3299
3213
2626
FY 2021 FY 2022 FY 2023
SUMMARY
6.3.8 SJVN LIMITED-PROJECTS
S.No. Projects under Operation Location Capacity (in MW) Location Capacity (in MW)
1 Nathpa Jhakri Hydro Power Station Himachal Pradesh 1500
2 Rampur Hydro Power Station Himachal Pradesh 412
3 Khirvire Wind Power Project Maharashtra 47.6
4 Charanka Solar PV Power Plant Gujarat 5.6
5 Sadla Wind Power Project Gujarat 50
6 Grid-connected Solar Plant at NJHPS Himachal Pradesh 1.3
SUMMARY
6.3.8 SJVN LIMITED-PROJECTS(UNDER CONSTRUCTION)
1 Arun - 3 HEP Nepal 900
2 Naitwar Mori HEP Uttarakhand 60
3 Luhri HEP Stage-1 Himachal Pradesh 210
4 Dhaulasidh HEP Himachal Pradesh 66
5 Buxar Thermal PP Bihar 1320
6 Kholongchhu HEP Bhutan 600
SUMMARY
6.3.8 SJVN LIMITED- PROJECTS(UNDER CONSTRUCTION)
1 Bagodara Solar Power Project Gujarat 70
2 Parasan Solar Power Project Uttar Pradesh 75
3 CPSU Scheme Solar Power Project (SPP) Rajasthan 1000
4 Gujrai SPP Uttar Pradesh 50
5 Gurhah SPP Uttar Pradesh 75
SUMMARY
6.3.8 SJVN LIMITED- RECENT DEVELOPMENTS

DATE TYPE OF DEVELOPMENT DETAILS
On November 23, 2023, SJVN Ltd announced it had been selected to build 200 Megawatt of grid-connected wind power
November 2023 Contract generating capacity in the country. SJVN unit will build the facility under a Power Purchase Agreement with SECI Ltd following an
auction for 1,200 MW of wind power conducted by the state-run solar company.
SUMMARY
6.3.9 TATA POWER COMPANY LIMITED
KEY PRODUCT OFFERINGS

INR 56,033 crore GENERATION
Net Sales in INR RENEWABLES
2023 (All Segments) TRANSMISSION AND DISTRIBUTION OF POWER
FY 2023 Ended on 31st March 2023 OTHERS
www.tatapower.com
UNALLOCABLE
GLOBAL OVERVIEW
Tata Power Company Limited is an Indian multinational
~23,025
company that deals in electric utility service providers and Total No of Employees
electricity generation through power plants. The company
is limited through shares, with the majority of shares held
by the parent organization, the Tata Group. The company is
one of India’s largest integrated power companies.
The company was formerly a part of three entities, which 1915
were jointly known as Tata Electric Companies.
Founded
The company is into renewable energy and conventional
energy generation, transmission and distribution, EV
infrastructure, solar rooftops, and large EPC projects.
The company operates not only in India but also in
Singapore, Indonesia, South Africa, and Bhutan. Delhi, India
Headquarters
Source: D&B Hoovers, As of May 2022, Company Website
SUMMARY
6.3.9 TATA POWER COMPANY LIMITED -MARKET OVERVIEW
The company is in the core business of generating and

developing EPC Power projects and distributing electricity
through electric power stations.

On 20th November 2023, Tata Power Renewable Energy
The company, along with its subsidiaries and joint ventures, Limited (TPREL), a subsidiary company of The Tata Power
has an electricity generation capacity of 14,384 megawatts, Company Limited, a renewable energy player in India,
of which almost 40% comes from clean, emission-free announced that it had crossed the 1.4 gigawatt capacity of
sources. The company has been producing electricity in India group captive projects in the last seven months. This
since 1915 and has over 100 years of experience. achievement is the result of the signing of Power Delivery
Agreements (PDA) with various industries across segments.
SUMMARY
6.3.9 TATA POWER COMPANY LIMITED– FINANCIALS

TATA POWER COMPANY LIMITED, REVENUE IN INR CRORE, 2021-2023
60,000 56,033.00
50,000 42,576.00
40,000 33,079.00
30,000
20,000
10,000
0
FY 2021 FY 2022 FY 2023
TATA POWER COMPANY LIMITED, REVENUE SHARE (%), BY BUSINESS SEGMENT, 2023
0.2% 1.0%
GENERATION
RENEWABLES
TRANSMISSION AND DISTRIBUTION OF

98.8% POWER
SUMMARY
6.3.9 TATA POWER COMPANY LIMITED- PROJECTS
1 Bhivpuri Hydro Power Maharashtra 75 MW
2 Khopoli Hydro Power Maharashtra 72 MW
3 Bhira Hydro Power Maharashtra 300 MW
4 Mundra Thermal PP Gujarat 4150 MW
5 Trombay Thermal PP Mumbai 930 MW
6 IEL Thermal PP Jamshedpur 120 MW
SUMMARY
1 Jojobera Thermal PP West Bengal 427.5 MW
2 Maithon Thermal PP Jharkhand 1050 MW
3 Prayagraj Thermal PP Uttar Pradesh 1980 MW
4 Kalinganagar Waste Heat Recovery PP Jharkhand 202.5 MW
5 Haldia Waste Heat Recovery PP West Bengal 120 MW
SUMMARY
1 Mitha Solar generation Gujarat 25 MW
2 Pavagada Solar Farm Karnataka 150 MW
3 Anantapur Solar Farm Andhra Pradesh 100 MW
4 Dholera Solar Farm Gujarat 300 MW
5 Kayamkulam Floating Solar Farm Kerala 101.6 MW
SUMMARY
1 Pratapgarh Wind Farm Rajasthan 126 MW
2 Rojmal Wind Farm Maharashtra 100 MW
3 Poolavadi Wind Farm Tamil Nadu 99 MW
4 Nimbagallu Wind Farm Andhra Pradesh 100 MW
5 Samana Wind Farm Gujarat 50.4 MW
SUMMARY
6.3.9 TATA POWER COMPANY LIMITED- RECENT DEVELOPMENTS

DATE TYPE OF DEVELOPMENT DETAILS
On 16th October 2023, Tata Power Renewable Energy Limited, a subsidiary of The Tata Power Company Limited, announced the
October 2023 Agreement signing of a Power Delivery Agreement (PDA) with Endurance Technologies Limited for 12.5 MWp, which will generate 27.5
million units (MUs) of electricity every year.
SUMMARY
6.3.10 TORRENT POWER LTD

INR 260.75 billion
GENERATION
Revenue
TRANSMISSION
DISTRIBUTION
The Financial Year Ended in March 2023 (All Segments)
CABLES
www.torrentpower.com
GLOBAL OVERVIEW
Torrent Power is a well-known brand in the Indian power
~ 13,314
industry. The company is the most accomplished private Employees (2022)
sector player, with many years of experience in power
generation, transmission, and distribution, as well as an
established service for implementing large power projects.
Power cables are also manufactured and supplied by the
company. 1996
The company produces 3092 MW of thermal power Founded
through a particular combination of gas and coal-based
power plants that use cutting-edge power generation
technology in order to ensure high thermal efficiency.
Adding 787 MW to the total installed generation capacity
of 4110 MW, it also operates in the renewable energy
segment.
Ahmedabad, India
Headquarters
SUMMARY
6.3.10 TORRENT POWER LTD - MARKET OVERVIEW
The company offers solutions in power transmission,
generation, and distribution. The company is a highly
efficient power utility that is ranked among the best in the MARKET SEGMENT COMPANY VERTICAL
nation. With a total generation capacity of 3879 MW, it
possesses a portfolio of power plants based on coal, gas, and
renewable energy.
As of 2022, the company had generated 4,110 MW of power As of August 2023, the Company had constructed 249 km and
and distributed it to over 3.9 million customers. The company 105 km of 400kV double circuit transmission lines to
operates in more than 12 cities in the country. transport power generated at the SUGEN and DGEN plants to
various off-take centers. It also has 129 km of dedicated 220
KV transmission lines from SUGEN to the Surat distribution
area, as well as a 220 KV line from SUGEN to GETCO. In
addition, the company operates a 220/132 kV transmission
system in the Ahmedabad distribution area.
SUMMARY
6.3.10 TORRENT POWER LTD – FINANCIALS

TORRENT POWER LTD, SALES IN INR BILLION, 2020-2022
300.00
260.75
250.00
200.00
144.93
150.00
123.14
100.00
50.00
0.00
2020 2021 2022
SUMMARY
6.3.10 TORRENT POWER LTD : PROJECTS

UPCOMING RENEWABLE PROJECTS
Project under expansion by

Type Capacity (MW) Tariff (Rs/KWh) Long term PPA with Scheduled COD Location of the project
way of
Wind 115 2.76 SECI Bidding October’22* Jam Khambhalia, Gujarat
Company’s licensed Surendranagar and Patan,

Solar 300 2.22 Bidding March’24
distribution business Gujarat
SECI
Wind 300 2.94 Bidding March’25 Karnataka
*Extension request submitted to SECI/MNRE. 27 MW of capacity has been commissioned in May’23; remaining to be commissioned progressively
SUMMARY
6.3.10 TORRENT POWER LTD : PROJECTS

COMMISSIONED RENEWABLE PROJECTS
Type Capacity (MW) Commissioning Technology Location of the project
Wind 49.6 2012 Lalpur, Jamjodhpur and Bhanvad Gujarat

62 Nos. 800 kW Gearless Wind Turbines with Synchronous Generator
Solar 51 2015 Polycrystalline Technology with Fixed Tilt Charanka Solar Park, Patan Gujarat
Solar 87 2016 Surat, South Gujarat

Polycrystalline Technology with Fixed Tilt
Consists of 40 nos of S97_90HH 2100 kW and 56 nos of S97_120HH 2100 kW Wind Turbines with Double
Wind 201.6 2016 Bhuj, Gujarat
Fed Induction Generator
32.0 MW - January, 2018 Consists of 40 Nos. 800 kW Gearless Wind Turbines with Synchronous Generator and 9 Nos of S97_120
Wind 50.9 Rajkot Gujarat
18.9 MW - March 2019 HH 2100 kW Wind Turbines with Doubly Fed Induction Generator
Wind 50.4 2019 Consists of 13 Nos S97_120 HH 2100 kW Wind Turbines with Doubly Fed Induction Generator Bhavnagar, Gujarat
Consists of 30 Nos G114-106 HH 2000 kW + Max Power Wind Turbines with Doubly fed Induction
Wind 60 2018 Lingasugur Taluka, Karnataka
Generator
Consists of 30 Nos G114-106 HH 2000 kW + Max Power Wind Turbines with Doubly Fed Induction
Wind 60 2018 Zalki, Karnataka
Generator
Consists of 63 Nos G114-106 HH 2000 kW + Max Power Wind Turbines with Doubly Fed Induction
Wind 126 2019 Lohara-Koral, Maharashtra
Generator
Wind 50 2019 Consists of 25 nos. of DF/2000/113 WTGs, Having Rated Capacity of 2000 kW Kutch, Gujarat
7 MARKET OPPORTUNITIES AND FUTURE
TRENDS
#TOC_DIVIDER#
SUMMARY
7 MARKET OPPORTUNITIES AND FUTURE TRENDS

UNTAPPED SOLAR POTENTIAL AND FOCUS TO INCREASE DECENTRALIZATION
BACKGROUND
• Energy access is crucial to drive the country’s economic growth. Universal access to clean, affordable, and reliable energy has recently highlighted the importance of decentralized energy generation technologies
such as rooftop solar. If tapped, India has vast solar energy potential, which could expedite solar installations during the forecast period.
• A large section of the Indian population faces an electricity shortage despite having robust electricity access in the country due to the unavailability of a centralized grid. Hence, installing solar rooftops is a
potential opportunity to enable energy independence for households in India. This will likely benefit the development of the power energy market in the country.
IMMENSE SOLAR POTENTIAL AND FOCUS TO INCREASE DECENTRALIZATION
• Indian States such as Rajasthan, Jammu & Kashmir, Maharashtra, Madhya Pradesh, and Andhra Pradesh have solar energy potential of 142.31 GW, 111.05 GW, 64.32 GW, 61.66 GW, and 38.44 GW, respectively.
The tapping of such enormous potential would facilitate the opportunity for solar developers and EPC companies to invest, construct, and operate the projects in the future. This could ramp up India’s solar
rooftop project installation in future years.
• As per the Mumbai Climate Action Plan (MCAP), Mumbai has vast potential to generate about 1.72 GW through rooftop solar power plants from commercial, industrial, and residential segments. More
specifically, rooftop solar in residential facilities can harness 1.3 GW of electricity, followed by 223 MW from industrial and 71 MW for educational buildings. The plan further highlights that if the
abovementioned potential is achieved, it can help meet Mumbai’s peak energy demand of close to 3.5 GW during the summer. Also, it would ensure 100 percent green energy and a reduction in Mumbai’s
generation and power transmission infrastructure. Thus, it signifies a market opportunity for solar energy EPC companies and project developers to establish solar rooftop projects in the forecast period.
• Another factor where the market opportunity lies is the rural segment, where the government’s schemes and initiatives are generally not practiced due to unawareness among the people. However, increased
awareness could bring the demand for installing solar rooftop projects in rural areas. Thus, it appears to be a market opportunity for the growth of solar rooftop projects in rural areas of India. Moreover, the
government has focused extensively on decentralizing electricity generation in residential, commercial, and industrial areas. This could benefit the EPC companies and rooftop solar project developers in
establishing new projects in upcoming years.
• In recent years, decentralized projects in semi-urban and rural areas of India, particularly solar rooftop plants, have emerged as a potential energy solution for healthcare facilities. For instance, in 2023, in
Raichur, India, the government hospital integrated with solar rooftops under a program run by Selco Foundation is used to energize healthcare operations. The system has resulted in providing affordable
services to patients. Moreover, switching hospitals and other clinics to a solar rooftop has also helped reduce emissions. The inclusion of solar rooftops in government medical facilities located in rural areas has
proved crucial in passing the benefits of electricity cost savings to patients through affordable treatment. Such decentralized energy generation projects could act as a market opportunity in the forecast period.
• The decentralized solar capacity coupled with mini-grids in rural areas and islands has been cheaper than diesel generators. The deployment of decentralized solar plants is expected to increase through feed-in
tariffs and tariff restructuring. Further, the battery cost is expected to decline, which is anticipated to complement improved reliability and decreased power equipment costs. As MNRE strives toward achieving
universal energy access by 2030, it envisages an investment of approx. USD 18 billion to establish Solar-based decentralized renewable energy (DRE) solutions for about 1.2 GW of capacity in upcoming years.
Hence, considering the aforementioned factors, the power market is expected to witness significant growth during the forecast period.
SUMMARY

INCREASING INTEREST IN OFFSHORE WIND ENERGY FROM DEVELOPING AND UNTAPPED MARKETS
BACKGROUND
• The hunt for more renewable energy sources and the rapid development of offshore wind power suggests that it is likely to play a significant role in power generation in the near future. In accordance
with the Ministry of New and Renewable Energy, eight zones in Gujarat and Tamil Nadu have been recognized as potential offshore wind energy zones based on preliminary assessments based on
satellite data and other data available from other sources. A preliminary assessment by the National Institute of Wind Energy (NIWE) within the identified zones indicates that 36 GW of offshore wind
energy potential exists only off the coast of Gujarat. A further 35 GW of offshore wind energy potential exists off the coast of Tamil Nadu.
DEVELOPMENTS IN OFFSHORE WIND ENERGY
• With a coastline of about 7600 kilometers and surrounded by water on three sides, India has excellent prospects for harnessing offshore wind energy. In light of this, the Indian government notified the
"National Offshore Wind Energy Policy" by means of a Gazette Notification dated the 6th of October 2015. According to the policy, the Ministry of New and Renewable Energy will serve as the nodal
Ministry for the development of offshore wind energy in India. It will coordinate closely with other government entities to develop and utilize maritime space within the country's Exclusive Economic
Zone (EEZ) and oversee offshore wind energy development throughout the country. As the nodal agency for resource assessment, surveys, and studies in the Exclusive Economic Zone (EEZ), the National
Institute of Wind Energy (NIWE) in Chennai will demarcate blocks and facilitate developers in the development of offshore wind farms.
• In addition, the Ministry published a strategy for offshore wind development entitled 'Strategy for Establishing Offshore Wind Energy Projects' on the 8th of July 2022. The strategy was last revised on
the 26th of September, 2023. According to the strategy, three models have been envisaged for offshore wind development:
o Model-A: In this model, NIWE/Government entities will conduct studies/surveys for sites where studies/surveys have been conducted or are proposed to be conducted. Using this model, MNRE will
develop a bid for the procurement of offshore wind power capacity through its implementing agencies. To achieve a predetermined power tariff, central financial assistance will be provided in the
form of Viability Gap Funding (VGF).
o Model-B: The model will be followed for the sites for which studies/ surveys will be conducted by prospective developers (with exclusive access to the seabed), and project development will take
place through bilateral agreements or captive consumption or on a power exchange basis. In addition, the government may also request bids from prospective developers for procurement of power
for DISCOMs on a tariff basis after two years. The prospective developer shall undertake the development of the project without Central Financial Assistance (CFA).
SUMMARY

INCREASING INTEREST IN OFFSHORE WIND ENERGY FROM DEVELOPING AND UNTAPPED MARKETS
o Model-C: Developers may identify offshore wind sites within the EEZ, excluding those considered under Model-A and Model-B, and conduct studies and surveys. The government will prepare a bid
for project development/allocation of the seabed. In this model, the developer who has conducted the study or survey of the respective sites may also submit a proposal for project development
and allocation. A site-specific bidding process would be conducted with a first right of refusal in favor of the developer who conducted the study/survey. However, the project development will be
handled by the prospective developer without the requirement for any Central Financial Assistance (CFA).
• Additionally, in September 2023, the Union Ministry of New and Renewable Energy (MNRE) issued a tender for the construction of India’s first set of offshore wind projects, offering them at seven
locations off the coast of Tamil Nadu, with a cumulative capacity of 7 GW. The ministry has appointed the National Institute of Wind Energy (NIWE) as the nodal agency for conducting the bidding.
According to the tender notice, bids for 4.1 GW of projects will be issued in January 2024, and the balance will be issued in the next financial year. The notice has invited interested players to survey the
proposed locations. Hence, the technological advancements, declining production costs of wind turbines, and the rising interest in offshore wind energy in the developing and untapped markets are
anticipated to provide an excellent opportunity for the power market in the future.
8 ABOUT US
8.1 Industries Covered
8.2 Our Customized Research Capabilities
#TOC_DIVIDER#
ABOUT US
SNAPSHOT
HANDCRAFTED RESEARCH On-the-ground industry experts in
SOLUTIONS 100+ countries
IN-DEPTH 3000+
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TRACKING Projects delivered
+1-617-765-2493
info@mordorintelligence.com DEDICATED ANALYST
www.mordorintelligence.com SUPPORT 250+
In-house analysts
8.1 INDUSTRIES COVERED
ICT CHEMICALS AND MATERIALS CONSUMER GOODS PACKAGING
• IoT, Big Data, M2M • Adhesives & Sealants • Apparel, Footwear, Accessories • Packaging Materials & Types
• Analytics • Advanced Materials • Appliances • Food Packaging
• Cloud Computing • Aromatics and Intermediates • Cosmetics • Beverage Packaging
• Information Technology • Composites • Furniture • Pharmaceutical Packaging
• Data Centers • Construction Chemicals & Materials • Household Care • Household Packaging
• Software & Solutions • Metals, Ceramics, Industrial Materials • Luxury Goods & Services • Personal Care Packaging
• Telecommunications • Paints & Coatings • Personal Care • Industrial Packaging
• IT Hardware • Plastics, Polymers, Elastomers • Recreational Goods • Advanced Packaging
• Internet • Specialty & Fine Chemicals • Sports & Fitness • Country-Level Packaging Industry Analysis
• Security • Water & Wastewater Treatment • Packaging Equipment
• Advanced Technologies
ELECTRONICS ENERGY & POWER AUTOMATION HEALTHCARE
• Semiconductors • Power • Industrial Automation & Process Control • Disease Landscape

• Sensors • Oil & Gas • Robotics • Healthcare IT
• Optoelectronics • Renewables • Engineering Products & Components • Medical Devices
• Electrical & Electronic Components • Energy Efficiency • Building Automation • Pharmaceuticals
• Display Technology • Engineering, Procurement and Construction • Logistics Automation • Biotechnology
• Security & Surveillance • Veterinary Healthcare
• Monitoring & Testing Equipment • Healthcare Services
8.1 INDUSTRIES COVERED
AGRICULTURE FOOD & BEVERAGES AUTOMOTIVE
• Agricultural Commodities • Food • Parts and Components

• Agricultural Machinery & Tech • Beverage • Automotive Technology
• Crop Protection • Processed Food • Manufacturing Processes
• Fertilizers & Seeds • Food Additives & Supplements • Automotive Materials & Coatings
• Food Ingredients • Automotive Services
• Food Service • Vehicles
• Machinery & Equipment
ANIMAL NUTRITION AEROSPACE & DEFENSE OTHER GROUPS
• Compound Feed • Defense • Logistics

• Feed Additives & Premixes • Airport Operations • Processing Technologies
• Pet Care • MRO • Finance and Insurance
• Pet Food • Technology • Retail
• Real Estate and Construction
• Tourism
8.1.1 MARKETS COVERED IN ENERGY & POWER
Our Energy & Power Solutions
Ready-to-use Market Reports Customized Market Intelligence
1,600+ off-the-shelf reports for ready consumption on E&P Tailored solutions for in-depth, unique needs
Power Energy Energy &

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Upstream Oil Midstream Oil Downstream Oilfield Energy &
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Intelligence Investment Product Market Market Competitive

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Data collection and analysis supplier intelligence
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REPORT - INDIA POWER MARKET EMISPDF in-iimahdvishwa from 35.154.106.89 on 2024-05-04 12:19:36 BST. DownloadPDF. Copyright © 2023 Mordor IntelligenceTM

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REPORT

INDIA POWER MARKET

Domain: Energy & Power

Base Year: FY2022

Forecast Period: FY2023 – FY2028

+1 617 765 2493

1.1 SCOPE OF THE STUDY

POWER GENERATION SOURCE TRANSMISSION AND DISTRIBUTION

▪ Thermal ▪ Transmission and Distribution

Source: Mordor Intelligence

1.2 STUDY ASSUMPTIONS AND MARKET DEFINITION

BASE YEAR, REVIEW,

2.1 RESEARCH FRAMEWORK

STEP 1 STEP 2 STEP 3

Report delivery with high-quality market insights,

Confirm the objectives of the assignment with Client

2.2 SECONDARY RESEARCH

OBJECTIVE Hypothesis and insights building; get factual data

Relevance and credibility of sources

2.2 KEY SOURCES USED IN THIS REPORT

2.3 PRIMARY RESEARCH

OBJECTIVE Gather first-hand insights on the market studied

Discussion guide MODES OF PRIMARY RESEARCH

Semi-structured approach to probe and

Telephonic Email Chat Interviews Virtual Council Surveys & Others

Targeted industry interviews to fill data gaps

2.3 PRIMARY RESEARCH APPROACH AND KEY RESPONDENTS

EXECUTIVE LEVEL OPERATIONAL LEVEL INDUSTRY/ NEED SPECIFIC MARKET ECOSYSTEM

Raw data and intelligence, Insights into market dynamics,

2.4 DATA TRIANGULATION & INSIGHT GENERATION

ECONOMETRIC MODELS ANALYST ESTIMATES Expert interviews

3 EXECUTIVE SUMMARY AND KEY FINDINGS

MAJOR EXISTING PROJECTS MAJOR UPCOMING PROJECTS LEADING MARKET PLAYERS

• Mundra Ultra Mega Power Plant (4,000 MW)

Source: Mordor Intelligence

Note: Data Mentioned is from April 2023 to November 2023

Source: National Power Portal, India

INDIA POWER MARKET OVERVIEW INDIA POWER MARKET OVERVIEW

Source: Mordor Intelligence

Source: Mordor Intelligence

STATE NAME SHARE OF INSTALLED POWER GENERATION CAPACITY (%)

Himachal Pradesh 1.09%

Jammu & Kashmir

Uttar Pradesh 7.19%

Source: Central Electricity Authority

STATE NAME SHARE OF INSTALLED POWER GENERATION CAPACITY (%)

Madhya Pradesh 6.31%

Dadra and Nagar

Andhra Pradesh 6.44%

Tamil Nadu 9.17%

Source: Central Electricity Authority

STATE NAME SHARE OF INSTALLED POWER GENERATION CAPACITY (%)

West Bengal 2.59%

Arunachal Pradesh 0.19%

Andaman & Nicobar 0.03%

2017-18 2018-19 2019-20 2020-21 2021-22 2022-23

Source: Central Electricity Authority

State Sector Private Sector Central Sector

Source: National Power Portal, India