Upgrading power generation: How do we pace with the growing electricity demand in India?

Electricity is indispensable for any modern and emerging economy. As a cascading effect of the pandemic-led lockdown, the global electricity demand was scarce in 2020. According to the estimates of a recent industry report, the demand growth for electricity witnessed a decline of 9.1 percent in March 2020 and April 2020. Now that the world is gradually moving on the path of market recovery, there is a critical need to access power in certain countries like China, India, and other emerging economies.

Considering the scenario in India, the nation’s economy is expanding with burgeoning population, urbanization, and industrialization. As the country develops and modernizes its economy, the growth of energy needs in India becomes three times the global average –