From the time immemorial, the human race has evolved, survived, and prospered based on energy. The invention of fire accidentally helped to boost the early evolution of humans to what we are today. This discovery proved to be the benchmark in understanding power, as it paved the way to an exploration of new potential. Humans have produced, utilized, and established resources of energy for their survival. Power Generation companies in India manufactured numerous types of machinery and appliances to leverage the most from multiple energy resources.

Let’s get an overview of the Indian Power Industry.

India’s power sector is considered to be one of the most diversified around the world. Being a rich heritage of energy resources, India possesses numerous power generation sources as well. Natural gas, coal, oil, nuclear power, Ignite, are categorized under conventional resources and domestic waste, the solar, wind, and agricultural resources are categorized under non-conventional sources.

Note: In May 2018, India seized 4th rank in the Asia Pacific region on an index of measuring overall power. The evaluation of the index was conducted between 25 nations.

Market Size of the Power Industry in India

The Indian power sector is experiencing a significant transformation that is redefining the opportunities present in the power industry. One of the most urgent demands in India is the generation of electricity. With the demand for power increasing at both supply and market sides, the Indian government's campaign ‘Power for all’ has accelerated the power generation capacity in the country.

As of May 2019, the total installed capacity of power stations in India stood at 356.82 Gigawatt (GW).

Government Initiatives

With immense potential in the power sector, the government of India considers it one of the vital industries to promote sustained industrial growth. Here’s a list of few initiatives taken by the government of India to boost the Indian power sector:

An Ujwal Discoms Assurance Yojana (UDAY) was introduced by the government of India, which aims at encouraging financial and operational turnaround of DISCOMS, state-owned power distribution companies. A significant reason for them to launch this scheme was to reduce AT &C, Aggregate Technical & Commercial losses to 15% by FY19.

The government approved a national policy on Biofuels of India in 2018. The plan aims at boosting infrastructural investment in rural areas, achieving a cleaner environment, employment generation, reduced import dependency, and much more.

The Government of India has already released its roadmap to accomplish 175 GW capacity in renewable energy by 2022. Numerous power generation companies in India are also onboarding to convert this vision into reality. With the right efforts in the right direction, India can achieve its vision of attaining 24*7 affordable and quality power by 2020.