India is globally ranked third in power generation. accounting for 5.86%, i.e. 1,561,100 GW of the world’s total annual energy generation after China and the US; owing to India’s geographical size, this transforms into massive capacity.
The power deficit situation in the country has improved over the past few years; from 2014 to 2019, the energy deficit (shortfall in energy supply during a day) reduced from 3.6% to 0.6% and the peak deficit (shortfall in supply during highest consumption period in a day) reduced from 4.7% to 0.8% as at April 2019.
At the same time, India’s share of total global primary energy demand is set to increase from 6% to 11% by 2040, backed by population growth and strong economic development.
The investment in power sector is growing at a record pace of 12%, largely due to 100% FDI being allowed in the renewable energy, electricity, power generation and distribution sectors.
As of August 2019, the total installed capacity matrix is almost equally distributed between the Government and private players, with the Government handling about 53.5%, and the private players handling the remainder 46.5% of India’s total installed capacity.
While conventional sources currently represent 63.2%, with the Government of India’s ambitious projects and targets, power generated from Renewable Energy Sources (RES), currently standing at 34.6%, this is expected to very soon overtake the installed capacity power generated from conventional sources, despite the latter continuing to rise.
This is a PR Newswire Feed; edited by Clean Future Team