REFERENCE CODE GDPE0793ICR | PUBLICATION DATE JULY 2015 INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
REFERENCE CODE GDPE0793ICR | PUBLICATION DATE JULY 2015
INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND
COMPETITIVE LANDSCAPE
India Power Market Outlook to 2025, Update 2015 – Market Trends, Regulations, and Competitive Landscape 2 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
Executive Summary
Power Sector Outlook
India’s burgeoning economy and increasing
military strength have made it a regional leader in
South Asia. Reforms initiated in the early 1990s
allowed the country to develop into a trillion-dollar
economy, having grown at a Compound Annual
Growth Rate (CAGR) of XX% from 2000 to 2014.
However, economic progress has been erratic,
largely due to sub-optimal policymaking and lax
program implementation.
India’s economic progress has mainly been driven
by the performance of the manufacturing and
services sectors, especially the latter. In line with
this, electricity consumption increased at a CAGR
of XX% during the 2000–2014 period. On a year-
on-year basis, consumption increased XX% in
2010 but dropped to an average of XX% during the
2012–2014 period. This can be attributed to the
business sector’s high share of electricity
consumption.
Power Market, India, Gross Domestic Product ($tn) and Annual Power Consumption (TWh), 2000–2014
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Ann
ual p
ower
con
sum
ptio
n (T
Wh)
GD
P ($
tn)
GDP (constant prices) Annual power consumption Source: GlobalData; IMF, 2015 TWh: Terawatt hour
Electricity generation also increased between 2000
and 2014, as illustrated in the following figure.
Power Market, India, Annual Power Consumption and Generation (TWh), 2000–2014
2000 2007 2014
Annu
al p
ower
con
sum
ptio
n an
d ge
nera
tion
(TW
h)
Annual power consumption Annual power generation Source: GlobalData, Power Database [Accessed on June 5, 2015]
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Table of Contents
INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
1 Table of Contents
1 Table of Contents ....................................................................................................................... 4
1.1 List of Tables ...................................................................................................................... 7
1.2 List of Figures ..................................................................................................................... 9
2 Introduction ............................................................................................................................... 10
2.1 GlobalData Report Guidance ............................................................................................ 11
3 India Power Market, Snapshot .................................................................................................. 12
3.1 Macro-economic Factors ................................................................................................... 12
3.2 Supply Security ................................................................................................................. 14
3.3 Opportunities .................................................................................................................... 15
3.4 Challenges ........................................................................................................................ 16
4 India, Power Market, Market Analysis ....................................................................................... 17
4.1 India, Power Market, Market Structure .............................................................................. 17
4.2 India, Power Market, Key Market Players .......................................................................... 18
4.3 India, Power Market, Financial Deals ................................................................................ 19
4.3.1 Deal Value and Volume Analysis, 2004–May 2015 ....................................................... 19
4.3.2 Deals by Type, 2014 ..................................................................................................... 20
4.4 India, Power Market, Demand Structure............................................................................ 22
4.4.1 Power Consumption by Sector, 2014 ............................................................................ 23
5 India, Power Market, Regulatory Scenario ................................................................................ 25
5.1 India, Power Market, Key Policies ..................................................................................... 25
5.1.1 Electricity Act, 2003 ....................................................................................................... 25
5.2 National Electricity Policy, 2005 ........................................................................................ 26
5.2.1 12th and 13th Five-Year Plan Targets ............................................................................. 26
5.2.2 National Tariff Policy, 2006............................................................................................ 26
5.2.3 Integrated Energy Policy ............................................................................................... 27
5.2.4 Extension of Power for All by 2012 Plan ........................................................................ 28
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INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
5.2.5 Rural Electrification Program ......................................................................................... 29
5.2.6 Coal Linkage Policy for 12th Five-Year Plan................................................................... 29
5.2.7 Renewable Portfolio Standards ..................................................................................... 30
5.2.8 Renewable Energy Certificates ..................................................................................... 31
5.2.9 National Action Plan on Climate Change ....................................................................... 32
5.3 Foreign Investment Laws and Regulations ........................................................................ 33
5.3.1 Policies for Foreign Investment in the Power Market ..................................................... 33
5.3.2 Investment Laws and Regulations Affecting Private Players ......................................... 33
6 India Power Market, Capacity and Generation Overview .......................................................... 35
6.1 India, Power Market, Cumulative Installed Capacity and Annual Power Generation, 2000–2025 .................................................................................................................................. 35
6.1.1 Installed Capacity by Fuel Type, 2014 ........................................................................... 35
6.1.2 Cumulative Installed Capacity and Annual Power Generation, 2000–2025 ................... 36
6.1.3 Cumulative Installed Thermal Power Capacity and Annual Thermal Power Generation, 2000–2025 ................................................................................................................... 39
6.1.4 Cumulative Installed Hydropower Capacity and Annual Hydropower Generation, 2000–2025 ............................................................................................................................. 42
6.1.5 Cumulative Nuclear Power Installed Capacity and Annual Nuclear Generation, 2000–2025 ............................................................................................................................. 46
6.1.6 Cumulative Installed Renewable Power Capacity and Annual Renewable Power Generation, 2000–2025 ................................................................................................ 50
7 India, Power Market, Transmission and Distribution Overview .................................................. 55
7.1 India, Power Market, Transmission Network Overview ...................................................... 55
7.2 India, Power Market, Distribution Network Overview ......................................................... 58
7.3 India, Power Market, Smart Grid Development ................................................................. 59
7.4 India, Power Market, Grid Interconnection ........................................................................ 60
7.4.1 Electricity Import and Export Trends, 2000–2014 .......................................................... 60
7.5 India, Power Market, Electricity Trading ............................................................................ 63
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Table of Contents
INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
8 India, Power Market, Competitive Landscape: Snapshot of Leading Power Generating Companies ............................................................................................................................... 64
8.1 Key Company in the Indian Power Market: NTPC Limited ................................................ 64
8.1.1 NTPC Limited, Company Overview ............................................................................... 64
8.1.2 NTPC Limited, Business Description ............................................................................. 64
8.1.3 NTPC Limited, SWOT Analysis ..................................................................................... 65
8.2 Key Company in the Indian Power Market: Maharashtra State Power Generation Co. Ltd. ... ....................................................................................................................................... 69
8.2.1 Maharashtra State Power Generation Co. Ltd., Company Overview ............................. 69
8.2.2 Maharashtra State Power Generation Co. Ltd., Business Description ........................... 70
8.2.3 Maharashtra State Power Generation Co. Ltd., SWOT Analysis ................................... 71
8.3 Key Company in the Indian Power Market: National Hydroelectric Power Corporation Ltd. ... ....................................................................................................................................... 74
8.3.1 National Hydroelectric Power Corporation Ltd., Company Overview ............................. 74
8.3.2 National Hydroelectric Power Corporation Ltd., Business Description ........................... 75
8.3.3 National Hydroelectric Power Corporation Ltd., SWOT Analysis ................................... 76
8.4 Key Company in the Indian Power Market: Nuclear Power Corporation of India Limited ... 80
8.4.1 Nuclear Power Corporation of India Limited, Company Overview .................................. 80
8.4.2 Nuclear Power Corporation of India Limited, Business Description ............................... 80
8.4.3 Nuclear Power Corporation of India Limited, SWOT Analysis ........................................ 81
8.5 Key Company in the Indian Power Market: Gujarat State Electricity Corporation Limited .. 84
8.5.1 Gujarat State Electricity Corporation Limited, Company Overview ................................ 84
8.5.2 Gujarat State Electricity Corporation Limited, Business Description .............................. 85
8.5.3 Gujarat State Electricity Corporation Limited, SWOT Analysis ...................................... 85
9 Appendix................................................................................................................................... 89
9.1 Market Definitions ............................................................................................................. 89
9.1.1 Power ............................................................................................................................ 89
9.1.2 Installed Capacity .......................................................................................................... 89
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9.1.3 Electricity Generation .................................................................................................... 89
9.1.4 Electricity Consumption ................................................................................................. 89
9.1.5 Thermal Power Plant ..................................................................................................... 89
9.1.6 Hydropower Plant .......................................................................................................... 89
9.1.7 Nuclear Power............................................................................................................... 89
9.1.8 Renewable Energy Resources ...................................................................................... 90
9.2 Abbreviations .................................................................................................................... 90
9.3 Bibliography ...................................................................................................................... 91
9.4 GlobalData’s Methodology ................................................................................................ 93
9.4.1 Coverage ...................................................................................................................... 93
9.4.2 Secondary Research and Analysis ................................................................................ 93
9.4.3 Primary Research and Analysis..................................................................................... 94
9.5 Disclaimer ......................................................................................................................... 95
1.1 List of Tables
Table 1: Power Market, India, Gross Domestic Product ($tn), Population (billion), and Annual Power
Consumption (TWh), 2000–2020 ................................................................................................. 14
Table 2: Power Market, India, Market Share of Power Generation Utilities (%),2014 .................................. 18
Table 3: Power Market, India, Deal Value ($bn) and Number of Deals, 2004–May 2015 ............................ 20
Table 4: Power Market, India, Deals by Type (%), 2014 ............................................................................ 21
Table 5: Power Market, India, Annual Power Consumption (TWh), 2000–2025.......................................... 23
Table 6: Power Market, India, Power Consumption by Sector (%), 2014.................................................... 24
Table 7: Power Market, India, Renewable Portfolio Standards Specified by State Electricity Regulatory
Commissions (%), 2010–2013 ..................................................................................................... 31
Table 8: Power Market, India, Cumulative Installed Capacity by Fuel Type (%), 2014 ................................ 36
Table 9: Power Market, India, Cumulative Installed Capacity (GW) and Annual Power Generation (TWh),
2000–2025 .................................................................................................................................. 38
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INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
Table 10: Power Market, India, Leading Thermal Power Plants, 2015 ......................................................... 40
Table 11: Power Market, India, Cumulative Installed Thermal Power Capacity (GW) and Annual Thermal
Power Generation (TWh), 2000–2025 ......................................................................................... 42
Table 12: Power Market, India, Leading Hydropower Plants, 2015 .............................................................. 43
Table 13: Power Market, India, Cumulative Installed Hydropower Capacity (GW) and Annual Hydropower
Generation (TWh), 2000–2025 .................................................................................................... 45
Table 14: Power Market, India, Three-Stage Strategy for Nuclear Power Potential Based on Domestic
Reserves, 2012 ........................................................................................................................... 46
Table 15: Power Market, India, Leading Nuclear Power Reactors, 2015 ...................................................... 47
Table 16: Power Market, India, Cumulative Installed Nuclear Power Capacity (GW) and Annual Nuclear
Power Generation (TWh), 2000–2025 ......................................................................................... 49
Table 17: Power Market, India, Jawaharlal Nehru National Solar Mission Capacity Addition Target, 2010–
2022............................................................................................................................................ 51
Table 18: Power Market, India, Leading Renewable Power Plants, 2015 ..................................................... 52
Table 19: Power Market, India, Cumulative Installed Renewable Power Capacity (GW) and Annual
Renewable Power Generation (TWh), 2000–2025 ....................................................................... 54
Table 20: Power Market, India, Scope of Electricity Grids ............................................................................ 56
Table 21: Power Market, India, Transmission Line Lengths (Ckm), 2000–2020 ........................................... 57
Table 22: Power Market, India, Number of Transmission Substations, 2000–2020 ...................................... 58
Table 23: Power Market, India, Distribution Line Lengths (Ckm), 2000–2020 ............................................... 59
Table 24: Power Market, India, Imports and Exports (TWh), 2000–2014...................................................... 62
Table 25: Power Market, India, NTPC Limited, SWOT Analysis ................................................................... 66
Table 26: Power Market, India, Maharashtra State Power Generation Co. Ltd., SWOT Analysis .................. 71
Table 27: Power Market, India, National Hydroelectric Power Corporation Ltd., SWOT Analysis .................. 76
Table 28: Power Market, India, Nuclear Power Corporation of India Limited, SWOT Analysis ...................... 81
Table 29: Power Market, India, Gujarat State Electricity Corporation Limited, SWOT Analysis ..................... 86
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Table of Contents
INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
Table 30: Abbreviations .............................................................................................................................. 90
1.2 List of Figures
Figure 1: Power Market, India, Gross Domestic Product ($tn), Population (billion), and Annual Power
Consumption (TWh), 2000–2020 ................................................................................................. 13
Figure 2: Power Market, India, Market Share of Power Generation Utilities (%), 2014 ................................. 18
Figure 3: Power Market, India, Deal Value ($bn) and Number of Deals, 2004–May 2015 ............................ 19
Figure 4: Power Market, India, Deals by Type (%), 2014 ............................................................................ 21
Figure 5: Power Market, India, Annual Power Consumption (TWh), 2000–2025.......................................... 22
Figure 6: Power Market, India, Power Consumption by Sector (%), 2014.................................................... 24
Figure 7: Power Market, India, Cumulative Installed Capacity by Fuel Type (%), 2014 ................................ 35
Figure 8: Power Market, India, Cumulative Installed Capacity (GW) and Annual Power Generation (TWh),
2000–2025 .................................................................................................................................. 37
Figure 9: Power Market, India, Cumulative Installed Thermal Power Capacity (GW) and Annual Thermal
Power Generation (TWh), 2000–2025 ......................................................................................... 41
Figure 10: Power Market, India, Cumulative Installed Hydropower Capacity (GW) and Annual Hydropower
Generation (TWh), 2000–2025 .................................................................................................... 44
Figure 11: Power Market, India, Cumulative Installed Nuclear Power Capacity (GW) and Annual Nuclear
Power Generation (TWh), 2000–2025 ......................................................................................... 48
Figure 12: Power Market, India, Cumulative Installed Renewable Power Capacity (GW) and Annual
Renewable Power Generation (TWh), 2000–2025 ....................................................................... 53
Figure 13: Power Market, India, Imports and Exports (TWh), 2000–2014...................................................... 62
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INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
Introduction
2 Introduction
India is a developing nation, having undergone various economic reforms over the past two
decades that have enabled it to achieve a growth rate of XX%. Market liberalization started in the
early 1990s, when economic reforms designed to transform it from a socialist-structured economy
into a free-market economy began to be implemented. Thereafter, the country experienced rapid
economic growth due to increased investment and participation by international market players.
However, in 2011 there was a decline in the rate of economic growth due to prevailing high inflation
and interest rates, coupled with slow progress in the implementation of economic reforms.
In 2000, India’s Gross Domestic Product (GDP) at current prices was $XX billion, increasing at a
Compound Annual Growth Rate (CAGR) of XX% to $XX trillion in 2014. According to International
Monetary Fund (IMF) forecasts, India’s GDP at constant prices is expected to grow at a CAGR of
XX% during the 2015–2020 period (IMF, 2015).
India’s increasing population, industrialization, standard of living, and robust GDP growth are all
pushing up its electricity demand, thereby increasing overall consumption. In 2000, India’s
electricity consumption amounted to XX Terawatt hours (TWh), and this increased at a CAGR of
XX% to XX TWh in 2014. Its annual power consumption is expected to grow to XX TWh by 2025.
The regulatory structure of the power market is multi-layered, and is organized into federal and
state levels. While there is a ministry of power operating at the federal level, each state also has its
own individual ministry of power. The Central Electricity Regulatory Commission (CERC) is India’s
primary electricity regulator at the federal level, and is responsible for issuing licenses, and
regulating and determining tariffs for inter-state transmission. The State Electricity Regulatory
Commissions (SERC), act as electricity regulators for individual states. This multi-layering has
been implemented in response to India’s large and diverse population and enormous geographic
area.
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INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
Introduction
2.1 GlobalData Report Guidance
The executive summary gives an overview of the key growth trends in India’s power market.
Chapter three provides a snapshot of the key parameters that impact India’s power sector, as
well as key points about the power market.
Chapter four provides an analysis of the Indian power market.
Chapter five details the regulatory scenario of the power market and the inward foreign
investment scenario in India.
Chapter six provides information on India’s cumulative installed capacity and annual generation
trends, by individual generation source.
Chapter seven describes the power transmission and distribution infrastructure in India and
provides information on interconnectors. This section also covers upcoming grid-related
projects in India.
Note: All 2014 market numbers provided in the report are estimates, except where actual data were
available.
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INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
Capacity and Generation Overview
6 India Power Market, Capacity and Generation Overview
6.1 India, Power Market, Cumulative Installed Capacity and Annual Power Generation, 2000–2025
6.1.1 Installed Capacity by Fuel Type, 2014
Thermal power from coal was the dominant source of electricity in India in 2013, accounting for
XX% of the total installed capacity. This was followed by hydropower plants, which made up XX%.
Onshore wind power contributed XX% of installed capacity, while thermal power from gas
contributed XX%. India does not have any offshore wind power capacity. Other renewables such
as solar PV, concentrating solar power, biomass, and biogas contributed to XX% of the total
capacity, while nuclear power contributed to XX%. Oil-based thermal power accounted for the
remaining XX% share of capacity in 2014.
Figure 7: Power Market, India, Cumulative Installed Capacity by Fuel Type (%), 2014
Coal (thermal)Hydropower
Wind (onshore)
Gas (thermal)
Other renewables
NuclearOil (thermal)
Source: GlobalData, Power Database [Accessed on June 3, 2015]
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INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
Capacity and Generation Overview
Table 8: Power Market, India, Cumulative Installed Capacity by Fuel Type (%), 2014
Fuel type Share
Coal (thermal)
Hydropower
Wind (onshore)
Gas (thermal)
Other renewables
Nuclear
Oil (thermal)
Source: GlobalData, Power Database [Accessed on June 3, 2015]
6.1.2 Cumulative Installed Capacity and Annual Power Generation, 2000–2025
Cumulative installed capacity in India increased from XX GW in 2000 to XX GW in 2014 at a CAGR
of XX%. Renewable installed capacity showed the highest growth rate during this period, at XX%.
Thermal power recorded the second highest growth at XX%, while nuclear and hydropower
installed capacities increased at XX% and XX% respectively.
During the 2015–2025 forecast period, the cumulative installed capacity is expected to grow at a
CAGR of XX%. Nuclear power installed capacity is expected to show a greater growth rate than
other technologies, at XX%, closely followed by renewable power capacity at XX%. Thermal and
hydropower capacities are expected to show growth rates of XX % and XX% respectively during
this period.
Annual generation increased from XX TWh in 2000 to XX TWh in 2014 at a CAGR of XX%. As with
the respective installed capacities, renewable power generation showed the highest growth rate, at
XX%, growing to XX TWh in 2014 from XX TWh in 2000. Nuclear power generation increased from
XX TWh in 2000 to XX TWh in 2014 at a CAGR of XX%, due to higher capacity factors. Thermal
power generation and hydropower generation grew at XX% and XX% respectively during this
period. Annual generation is expected to grow at a CAGR of XX% between 2015 and 2025.
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INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
Capacity and Generation Overview
Figure 8: Power Market, India, Cumulative Installed Capacity (GW) and Annual Power Generation (TWh), 2000–2025
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Ann
ual p
ower
gen
erat
ion
(TW
h)
Cum
ulat
ive
inst
alle
d ca
paci
ty (G
W)
Cumulative installed capacity Annual power generation Source: GlobalData, Power Database [Accessed on June 3, 2015]
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INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
Capacity and Generation Overview
Table 9: Power Market, India, Cumulative Installed Capacity (GW) and Annual Power Generation (TWh), 2000–2025
Year Cumulative installed capacity Annual power generation
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Source: GlobalData, Power Database [Accessed on June 3, 2015]
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Appendix
INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
9 Appendix
9.1 Market Definitions
9.1.1 Power
Power refers to the rate of production, transfer or energy use, usually related to electricity. It is
measured in Watts (W) and often expressed in kilowatts (kW) or Megawatts (MW). It is also known
as real power or active power.
9.1.2 Installed Capacity
Installed capacity refers to the generator’s nameplate capacity as stated by the manufacturer, or
the maximum rated output of a generator under given conditions. It is given in MW on a nameplate
affixed to the generator.
9.1.3 Electricity Generation
Electricity generation refers to the process of generating electricity from other forms of energy. It
also refers to the amount of electricity produced, expressed in Gigawatt-hours (GWh).
9.1.4 Electricity Consumption
Electricity consumption is the sum of electricity generated, plus imports, minus exports and
transmission and distribution losses. It is measured in GWh.
9.1.5 Thermal Power Plant
A thermal power plant is a plant in which turbine generators are driven by burning fossil fuels.
9.1.6 Hydropower Plant
A hydropower plant is a plant in which the turbine generators are driven by falling water.
9.1.7 Nuclear Power
Nuclear power is the energy released from the fission of nuclear fuel in a reactor.
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Appendix
INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
9.1.8 Renewable Energy Resources
Renewable energy resources are those that provide energy that is naturally replenished but limited
in the amount of energy available per unit of time. Biomass, geothermal, solar, small hydropower
and wind are examples of renewable resources.
9.2 Abbreviations
Table 30: Abbreviations AREP Accelerated Rural Electrification Program
BWR Boiling Water Reactor
CAGR Compound Annual Growth Rate
CEA Central Electricity Authority
CERC Central Electricity Regulatory Commission
CIL Coal India Limited
Ckm Circuit kilometer
DPR Detailed Project Report
FDI Foreign Direct Investment
FIIA Foreign Investment Implementation Authority
FIPB Foreign Investment Promotion Board
FiT Feed-in-Tariff
FYP Five-Year Plan
GDP Gross Domestic Product
GSECL Gujarat State Electricity Corporation Limited
GW Gigawatt
GWh Gigawatt-hour
HVDC High Voltage Direct Current
IEX Indian Energy Exchange
IMF International Monetary Fund
IPP Independent Power Producer
IREDA Indian Renewable Energy Development Agency
ISGTF India Smart Grid Task Force
JNNSM Jawaharlal Nehru National Solar Mission
kV kilovolt
kVA kilovolt Ampere
kW kilowatt
kWh kilowatt hour
LHP Large Hydropower Project
MNP Minimum Needs Program
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Appendix
INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
MNRE Ministry of New and Renewable Energies
MoF Ministry of Finance
MSPGCL Maharashtra State Power Generation Company Limited
MVA Megavolt-Ampere
MW Megawatt
NAPCC National Action Plan on Climate Change
NEP National Electricity Policy
NHPC National Hydroelectric Power Corporation Limited
NOWA National Offshore Wind Energy Authority
NPCIL Nuclear Power Corporation of India Limited
NPEX National Power Exchange
NTPC National Thermal Power Corporation
PFBR Prototype Fast Breeder Reactor
PHWR Pressurized Heavy Water Reactors
PPA Power Purchase Agreement
PV Photovoltaic
PWR Pressurized Water Reactor
PXIL Power Exchange of India
R-APDRP Restructured Accelerated Power Development and Reforms Program
REC Renewable Energy Certificates
RGGVY Rajiv Gandhi Grameen Vidyutikaran Yojana
RPS Renewable Portfolio Standards
SERC State Electricity Regulatory Commission
SHP Small Hydropower Project
TANGEDCO Tamil Nadu Generation and Distribution Corporation
T&D Transmission and Distribution
TWh Terawatt-hour
Source: GlobalData
9.3 Bibliography
CEA (2012). National Electricity Plan (Volume 1) Generation. Central Electricity Authority.
Available from: http://www.cea.nic.in/reports/powersystems/nep2012/generation_12.pdf
CEA (2014). Load Generation Balance Report 2014–2015. Central Electricity Authority.
Available from: http://www.cea.nic.in/reports/yearly/lgbr_report.pdf
India Power Market Outlook to 2025, Update 2015 – Market Trends, Regulations, and Competitive Landscape 92 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
Appendix
INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
CEA (2015). Executive Summary, Power Sector. Central Electricity Authority. Available from:
http://www.cea.nic.in/reports/monthly/executive_rep/jan15.pdf
CERC (2014). Report on Short-term Power Market in India: 2012–2013. Central Electricity
Regulatory Commission. Available from: http://www.cercind.gov.in/2014/MMC/AR1314.pdf
CSO (2015). Energy Statistics 2015. Central Statistics Office. Available from:
http://mospi.nic.in/Mospi_New/upload/Energy_stats_2015_26mar15.pdf
ET (2013). India faced peak power deficit of over 12,000 MW in 2012-13. The Economic
Times. Available from: http://articles.economictimes.indiatimes.com/2013-04-
14/news/38529356_1_peak-power-deficit-power-shortage-central-electricity-authority
[Accessed on June 4, 2015].
Harjani A (2012). India’s Power Crisis Puts Global Ambition on Back Foot. CNBC. Available
from:
http://www.cnbc.com/id/48433401/Indiarsquos_Power_Crisis_Puts_Global_Ambitions_on_Bac
k_Foot [Accessed on June 4, 2015]
IMF (2015). International Monetary Fund, World Economic Outlook Database, April 2015
[database]. International Monetary Fund. Available at:
http://www.imf.org/external/pubs/ft/weo/2015/01/weodata/weoselco.aspx?g=2001&sg=All+coun
tries [Accessed on June 4, 2015]
Korosec K (2012). India’s other power failure (and its opportunity). Smart Planet. Available
from: http://www.smartplanet.com/blog/intelligent-energy/indias-other-power-failure-and-its-
opportunity/18229 [Accessed on June 4, 2015]
PTI (2014). Policy for Coal Linkage Transfer to New Power Units on Anvil. Press Trust of India.
Available from: http://profit.ndtv.com/news/industries/article-policy-for-coal-linkage-transfer-to-
new-power-units-on-anvil-573972 [Accessed on June 3, 2015]
SECI (2015). JNNSM. Solar Energy Corporation of India. Available from:
http://seci.gov.in/content/innerinitiative/jnnsm.php [Accessed on June 3, 2015]
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http://www.doingbusiness.org/data/exploreeconomies/india [Accessed on June 4, 2015]
India Power Market Outlook to 2025, Update 2015 – Market Trends, Regulations, and Competitive Landscape 93 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
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WNA (2015). Nuclear Power in India. World Nuclear Association. Available from:
http://www.world-nuclear.org/info/Country-Profiles/Countries-G-N/India/ [Accessed on June 5,
2015]
9.4 GlobalData’s Methodology
GlobalData’s dedicated research and analysis teams consist of experienced professionals with
advanced statistical expertise and marketing, market research and consulting backgrounds in the
energy industry.
GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.uk) and
Strategic and Competitive Intelligence Professionals (www.scip.org).
All of GlobalData’s databases are continuously updated and revised. The following methodology
has been followed for the collection and analysis of data presented in this report.
9.4.1 Coverage
This report covers the Indian power market, examining the market structure and providing historical
generation and capacity and consumption forecasts until 2025. It also looks at the market’s
regulatory structure, import and export trends, competitive landscape and leading active and
upcoming power projects.
9.4.2 Secondary Research and Analysis
The capacity, generation and consumption data is collected and validated using a number of
secondary resources including but not limited to:
Government agencies, ministry websites, industry associations, the World Bank, IMF, and
statistical databases
Company websites, annual reports, financial reports, analyst reports and investor
presentations
Industry trade journals, market reports and other literature
GlobalData’s proprietary databases such as the Capacity and Generation Database, Power
Plant Database and Transmission and Distribution Database
Further to this, the following secondary information is collected and analyzed to project India’s
power market scenario to 2025:
India Power Market Outlook to 2025, Update 2015 – Market Trends, Regulations, and Competitive Landscape 94 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
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Macro-economic scenario
Government regulations, policies and targets
Government and private sector investment
Contract and deal announcements
Utility expansion plans
The sector’s historical track record
Other qualitative insights built through secondary research and analysis of company websites,
annual reports, investor presentations, industry and trade journals, and data from industry
associations
9.4.3 Primary Research and Analysis
Secondary research is further complemented through primary interviews with industry participants
to verify the market numbers obtained through secondary research and obtain first-hand
information on industry trends.
A typical research interview fulfills the following functions:
Obtains the interviewee’s perspective on the market size, growth trends, competitive landscape
and future outlook
Validates secondary research findings
Further develop the analysis team’s expertise and market understanding
The participants are drawn from a diverse set of backgrounds, including power producers,
equipment manufacturers, industry associations, government bodies, utilities, distributors, and
academia. The participants include but are not limited to C-level executives, industry consultants,
academic experts, business development and sales managers, purchasing managers, plant
managers, government officials and industry spokespersons.
India Power Market Outlook to 2025, Update 2015 – Market Trends, Regulations, and Competitive Landscape 95 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
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INDIA POWER MARKET OUTLOOK TO 2025, UPDATE 2015 – MARKET TRENDS, REGULATIONS, AND COMPETITIVE LANDSCAPE
9.5 Disclaimer
All Rights Reserved.
No part of this publication may be reproduced, stored in a retrieval system or transmitted in any
form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior
permission of the publisher, GlobalData.