In a recent announcement, the Union Minister for Power and New & Renewable Energy underscored the crucial need for 24×7 power availability to fuel India’s economic growth.
The power landscape in India has witnessed a significant surge in demand, fueled by a growing economy and the addition of 2.86 crore new consumers. The peak demand, which stood at 1,35,000 MW in FY 2013-14, has skyrocketed to 2,43,000 MW in the current fiscal year (until Nov. 2023). Projections from the 20th Electric Power Survey anticipate a peak demand of 2,77,200 MW in FY 2026-27 and a staggering 3,66,400 MW in FY 2031-32.
According to the National Electricity Plan, India aims to achieve an installed capacity of 9,00,422 MW by 2031-32. This includes 2,84,467 MW of fossil-based capacity (comprising coal, lignite, and gas) and 6,15,955 MW of non-fossil-based capacity (including nuclear, large hydro, solar, wind, small hydro, biomass, and pumped storage projects), along with a substantial Battery Energy Storage System capacity of 47,244 MW / 236,220 MWh.
To meet the projected coal/lignite-based capacity requirement of 2,83,000 MW by FY 2032, the government has planned an additional 80,000 MW. Currently, 27,180 MW is under construction, 31,010 MW is in advanced planning/development stages, and 29,720 MW is identified for future development.
In summary, with 132,148.5 MW of capacity currently under construction, India envisions a substantial addition of 517,403 MW by 2031-32. This ambitious expansion plan reflects the nation’s commitment to ensuring a robust and uninterrupted power supply, vital for sustaining its rapid economic growth and meeting the evolving energy needs of its citizens. As the country navigates this energy transition, balancing conventional and renewable sources remains a strategic imperative.
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