Power, Energy, Oil and Gas
For the growth of any nation, the maintenance and development of infrastructure are very important. Power and energy play a critical role and they are among the crucial elements of infrastructure which contribute to the growth and welfare of any nation.
India’s power sector is one of the most diversified power sectors in the world where power is generated from traditional sources like coal, lignite, natural gas, oil, hydro and nuclear power to non-traditional sources such as wind, solar energy and from agricultural and domestic wastes.
In India, the demand for electricity has increased substantially to make the power and energy sector a booming sector to look for. In India, the power and energy sector has transformed a lot and became more organized in the last 10 years. Moreover, the sustained economic growth and the Government of India’s focus on attaining “Power for All” has fuelled up the demand and growth of this industry to a great extent.
At the same point, the Indian market is transitioning to clean energy and focus on renewable energy. According to Renewable Energy Country Attractiveness index 2018 by EY, The Indian renewable energy sector is the fourth most attractive renewable energy market in the world.
According to Greenpeace India, it is expected that by the year 2040, around 49 percent of the total electricity will be generated by the renewable energy, as more efficient batteries will be used to store electricity which will further cut the solar energy cost by 66 percent as compared to the current cost.* The use of renewables in place of coal will save India Rs 54,000 crore (US$ 8.43 billion) annually.
India’s economic growth is very closely related to energy demand. Hence the need for oil and gas is projected to grow to a great extent. The Government has already implemented several policies to develop this sector in the last decade and as a result of that, this sector has grown and transformed to a great extent.
The energy demand of India is anticipated to grow faster than the energy demand of all major economies, on the back of robust economic growth. Consequently, India’s energy demand as a percentage of global energy demand is expected to rise to 11 percent in 2040 from 5.58 percent in 2017.
Sectors To Watch
Power Generation & Distribution
Transmission & Equipments
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