The government has made significant progress in the power sector over the past 9 years, transforming it from being power-deficient to power-sufficient. This was achieved by adding 1,94,394 MW of generation capacity, bringing the present installed capacity of power generation to around 4,26,132 MW.
In the current year 2023-24, a total generation capacity of 9,943 MW was added, with 1,674 MW coming from fossil fuel sources and 8,269 from non-fossil fuel sources. Additionally, during the same period, 7,569 MW of renewable capacity (including large hydro) were added, consisting of 5,531 MW of solar capacity, 1,931 MW of wind capacity, 34 MW of biomass capacity, 42 MW of small hydro capacity and 30 MW of large hydro generation capacity.
The government has achieved its goal of electrifying every village and household, resulting in increased power availability in rural areas from 12 hours in 2015 to 20.6 hours, and in urban areas up to 23.8 hours.
During the current year 2023-24, peak demand increased by 12.7% to 2,43,271 MW from 2,15,888 MW during the same period previous year. The all India peak shortage has reduced to 1.4% (3,340 MW) from 4.0% (8,657 MW) during the same period previous year.
Energy requirement has increased by 8.6% to 11,02,887 MU during the current year 2023-24 from 10,15,908 MU during the same period previous year. Energy availability has also increased by 8.9% to 10,99,907 MU during the year from 10,10,203 MU during the same period previous year. Total electricity generation, including from renewable sources, during 2023-24 is about 1176.130 BU, as against 1092.520 BU during the same period last year, showing a growth of 7.7%. During the current year 2023-24, energy shortage at all India level has reduced to 0.3% (2,980 MU) from 0.6% (5,705 MU) during the same period previous year.
List of Top 9 Power Generation/Distribution in India (BSE) based on Net Sales.
Company Name | Net Sales (Rs. cr) |
NTPC | 163,769.77 |
Power Grid Corp | 43,343.05 |
Adani Power | 36,681.21 |
Torrent Power | 18,836.22 |
Tata Power | 17,727.78 |
PTC India | 14,887.44 |
NLC India | 12,955.00 |
NHPC | 9,316.34 |
CESC | 7,972.99 |
Source: BSE, India, last updated 26 February, 2024
This news is a creative derivative product from articles published in famous peer-reviewed journals and Govt reports:
Reference:
1. SHaldar, A., Sucharita, S., Dash, D. P., Sethi, N., & Padhan, P. C. (2023). The effects of ICT, electricity consumption, innovation and renewable power generation on economic growth: An income level analysis for the emerging economies. Journal of Cleaner Production, 384, 135607.
2. Villanthenkodath, M. A., & Mohammed, S. P. (2023). Examining the impact of electricity production on economic growth and environmental quality in Japan: a disaggregated level analysis. Environmental Science and Pollution Research, 30(1), 849-868.
3. Pargal, S., & Banerjee, S. G. (2014). More power to India: The challenge of electricity distribution. Washington, DC: World Bank.
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