India becomes world’s third largest electricity producer, ahead of Russia, Japan

With generation of 1,423 TWh, India is now the third largest producer and consumer of electricity in the world, way ahead of Russia, Japan, Germany and Canada. A February 2018 report by India Brand Equity Foundation (IBEF), a commerce ministry arm, said that over FY 2010–FY 2017, electricity production in India grew at a CAGR of 7.03%.

The demand for electricity is expected to increase further at a CAGR of 7% to 1,894.7 TWh over FY 2007–2022. However, the current production levels are not enough to meet the demand as it outstrips the supply annually by about 7.5%. According to the report India will become the world’s first country to use LEDs for all lighting needs by 2019, thereby saving Rs 40,000 crore (US$ 6.23 billion) on an annual basis.

As of January 2018, total thermal installed capacity in the country stood at 219.81GW, while hydro and renewable energy installed capacity totalled to 44.96GW and 62.85GW, respectively. Of the total 334 GW of current generation capacity, coal-based power generation is at 194 GW and this is expected to reach 330-441 GW by 2040.

Initiatives taken by the Energy Efficiency Services have resulted in energy savings of 37 bkWh and reduction in greenhouse gas emissions by 30 million tonnes. The report says that cumulative FDI inflows into the sector over April 2000–December 2017 were US$ 12.97 billion accounting for 3.52% of the total FDI inflows to the country. In India power is a 100% FDI allowed sector.

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