Market Report, "India Power Report Q2 2016", published
Fast Market Research recommends "India Power Report Q2 2016" from Business Monitor International, now available
[USPRwire, Thu Apr 07 2016] Our view that power sector reforms would be a top priority for Modi's government is playing out. We are seeing notable progress in the Indian power market regarding renewable energy expansion, reducing red tape for power projects and improving fuel availability for thermal generation. That said, in vestment in India's power grid infrastructure will need to increase if Prime Minister Modi's ambitious power plans are to be realised. T he transmission and distribution net work remains highly inefficient, posing a significant risk to the expansion of the power and renewables sector in India. R eforming power tariffs will therefore be fundamental to ensuring sustainable supply and achieving Modi's power expansion ambitions.
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The sizeable coal power project pipeline and the widespread availability of coal - from low cost Asia seaborne imports and growing domestic production - will ensure that coal will remain the dominant fuel choice for India's power sector, despite growth in alternative sources, such as nuclear and renewables. We forecast coal to contribute 66% to India's power generation mix in 2025.
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Since coming to power, the government has relaxed several environmental rules to make it easier for companies to develop new projects. Small and medium-sized coal miners can now expand production by 50% without public consent, while polluting industries can operate closer to national parks. This relaxation of environmental laws has translated into a major reduction in red tape for the power sector and significant progress has been made with clearing the backlog of projects awaiting environmental approval.
India has plans to negotiate for lower-cost liquefied natural gas supplies from Australian exporters. According to statements from the government, supplies will be committed to power plants to support higher utilisation of the country's gas-fired generation capacity. Currently, around 60% of total capacity is unutilised due to the lack of affordable gas supply.
Solar capacity will register the fastest growth rates over our 10-year forecast period and dominate the project pipeline, but the ongoing sector and country-specific risks, such as the land acquisition bill, T&D bottlenecks and business environment hurdles threaten project realisation. Countries that have recently formed trade links with India, such as UK and US, will continue to play a key role in the competitive landscape.
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