India’s cumulative installed capacity will more than double from 272.8 Gigawatts (GW) in 2014 to 609 GW by 2025, representing a Compound Annual Growth Rate of 7.3 per cent, according to research and consulting firm GlobalData.

The company in a report “India Power Market Outlook to 2025, Update 2015 – Market Trends, Regulations, and Competitive Landscape,” states while coal-generated thermal power will continue to dominate, India’s renewable and nuclear energy sectors are both set to record impressive growth during the forecast period.

Chiradeep Chatterjee, GlobalData’s Senior Analyst covering Power, in a statement said India’s nuclear capacity is expected to increase more than six fold, from 5.8 GW in 2014 to 35.2 GW by 2025, in a bid to reduce the country’s reliance on coal.

The GlobalData report also states that India’s other renewable installed capacity (excluding hydropower) is expected to more than triple from 33.1 GW in 2014 to an estimated 125.9 GW by the end of the forecast period.

“India has significant solar power potential, due to its geographical location near the equator, and the country has outlined clear plans for future energy production from this source. The multi-phase Jawaharlal Nehru National Solar Mission, launched in 2010, set a target of 20 GW of grid-based solar power by 2022 and 2 GW of off-grid capacity for the same year,” Chatterjee said.

Thermal power will remain the dominant contributor to India’s energy mix, with installed capacity forecast to almost double from 188.9 GW in 2014 to 371.6 GW by 2025, GlobalData stated.

Related Topics