The Indian Power Industry is one of the largest and most important industries in India as it fulfils theenergy requirements of various other industries. It is one of the most critical components ofinfrastructure that affects economic growth and the well-being of our nation.
India has the world’s 5th largest electricity generation capacity and it is the 6th largest energy consumer accounting for 3.4% of global energy consumption. India’s electricity sector is amongst the world’s most active players in renewable energy utilization, especially wind energy. In India, power is generated by State utilities, Central utilities and Private players. Growth Potential and Investment Opportunities:
The Indian Ministry of Power has set a goal, “Mission 2012: Power for all” and released a comprehensive sector development blueprint.
A huge capital investment of about US$ 200 billion is required to meet Mission 2012 targets. This has welcomed numerous global companies to establish their operations in India under the famous PPP (public-private partnership) programs.
Renewable energy is the buzz word in Indian power sector and most of the public and private players are coming up with plans to tap the potential market.
Major Tendering Opportunities in Electrical And Power Sector:
With growing industrialization in the country and rising consumption of energy has resulted in growth of different types of construction, maintenance and technical works in power sector. Many new power generation units are also being set up and these units are floating numerous tenders for procurement of different items in the market. Most of the tenders are floated from these sectors that include –
> Thermal power plants> Hydroelectric power plants> Nuclear power plants> Renewable energy sources management plants
> Coal sector that meets most of the demands of energy generating units> Wind electricity generation plants
Being one of the fastest growing economies and the second largest populated country, India represents an attractive destination for the power industry. In the past few years, there has been a splendid growth in the power generation and capacity and with the proper enactment of several policies; the trend is likely to continue in the coming future.
This new wave in the Indian power sector has opened frontiers in technology, competency building & healthy competition between domestic & international businesses, opening significant two-way business traffic and a plethora of engagement opportunities. This coupled with vast domestic potential for advanced technology in power infrastructure and free exchange of global trade has made India the favoured for power sector community world over.
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