Power generation is a competitive economic activity in India, in the sense that it is populated by both central, State and private players, some of whom engage in electricity trading through power exchanges. Outside the open market, however, off-take prices charged by generating companies are often fixed under long-term PPAs, and consumer-end electricity prices are heavily regulated too. Transmission, in need of significant upgrades, is mostly State-owned. Generation and distribution in the wind and solar renewable segments are more competitive because generation costs are relatively fixed and decreasing, while feed-in tariffs are higher than those for conventional electricity. Although net metering has been adopted by several States, it is not universally successful, because of the widely varying electricity prices between States. In addition, large-scale renewable power feed-ins strain T&D capacity and thus is considered higher-risk by power distributors. All this makes the competitive landscape for the power sector in India different from State to State, but sharing the common denominator of significant levels of central and State scrutiny. Some of the challenges the sector faces include fickle fossil fuel supply, delays in the acquisition of land and right of way, inadequate infrastructure supporting power projects in remote areas, and environmental compliance.

01 EXECUTIVE SUMMARY 

02 SECTOR OUTLOOK 

03 SECTOR IN FOCUS 

04 COMPETITIVE LANDSCAPE

05 COMPANIES IN FOCUS 

06 REGULATORY ENVIRONMENT 

07 COAL-BASED GENERATION 

08 HYDROPOWER 

09 RENEWABLES 

10 NATURAL GAS

11 NUCLEAR POWER 

12 POWER TRADING