When India became independent in
1947, the country had a power generating capacity of 1,362 megawatt (MW).
Today, India is the sixth largest in terms of power generation and the per
capita power consumption in the country is 733.54 kilowatt-hours per year
(kWh/yr). It is said that power or electricity is the most critical component
of infrastructure, which affects the economic growth and well-being of a
nation. Presently, about 65 per cent of the electricity consumed in India is
generated by thermal power plants, 22 per cent by hydroelectric power plants,
three per cent by nuclear power plants and the rest 10 percent come from other
alternate sources like solar, wind, biomass, etc. With major developments in
the infrastructure sector and improvement in the standard of living, the demand
for power in the country is expected to grow at a rate of 10-12 per cent up
till 2017.
The power sector is mainly
divided into three major pillars: Generation, Transmission, and Distribution.
The generation is divided into also three sectors: Central Sector, State
Sector, and Private Sector. Indian solar installations are forecasted to be
approximately 1,000 MW in 2014, according to Mercom Capital Group, a global
clean energy communications and consulting firm.
The investment climate is positive in the power
sector. Due to policy of liberalisation, the sector has witnessed higher
investment flows than envisaged. The Ministry of Power has proposed for the addition of 76,000 MW of
power capacity in the 12th Five Year plan (2012-17). The Ministry has set a
target of adding 93,000 MW in the 13th Five Year Plan (2017-2022). The industry
has attracted FDI worth INR. 43,530.99 crore (US$ 7.24 billion) during the
period April 2000 to May 2014. Some of the major investments made into the Indian
power sector are by Suzlon Group, Tata Power Renewable Energy Ltd – subsidy of
Tata Power, Jakson Group, Bharat Heavy Electricals Ltd (BHEL), Swelect Energy
Systems (SWEES).
India has emerged as one of the fastest growing
economies in the world. Its current economic performance reflects a healthy
trend based on increased consumption, investment and exports. Over the next
five years, this growth is expected to continue. The Government of India has
identified the power sector as a key sector of focus to promote sustained
industrial growth.
India currently operates 19 atomic reactors which
produce 4,780 MW of electricity and has set an ambitious target of generating
63,000 MW nuclear power by 2032. With many bilateral nuclear agreements in
place, India is expected to become a major hub for manufacturing nuclear
reactors and associated components. Market-oriented reforms, such as the target
of 'Power for all' by and plans to add 88.5gigawatts (GW) of capacity by 2017
and 100 GW by 2022, provide high incentives for capacity addition in power
generation, which would increase the demand for electrical machinery. Foreign
participation in the development and financing of generation and transmission
assets, engineering services, equipment supply and technology collaboration in
nuclear and clean coal technologies is expected to increase.
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