In recent months, India’s biggest private sector players have made ambitious clean energy commitments. Reliance NSE -0.75 % India Ltd announced clean technology investments worth Rs 75,000 crore; ArcelorMittal pledged Rs 19,000 crore for solar power; and Adani NSE -0.76 % Green raised Rs 9,570 crore in debt financing. Backed by India’s billionaires, these announcements herald a new chapter of clean energy expansion in our country. But why aren’t our energy public sector undertakings (PSUs) also at the forefront of India’s energy transition?
PSUs continue to play a vital role in India’s energy sector and the wider economy. Energy sector PSUs account for seven of India’s 10 Maharatnas — firms that have an annual turnover of more than Rs 25,000 crore.
