India’s Power Sector Achievements In 2024: A Look Back And Forward

In the latest episode of the State of Economy Podcast, businessline’s Rishi Ranjan Kala speaks with Anujesh Dwivedi, Partner at Deloitte India. With over two decades of expertise in consulting and the power sector, Dwivedi offers a comprehensive analysis of India’s power sector achievements in 2024 and shares his insights on the future of energy in the country.

Dwivedi highlights India’s significant achievement in 2024 with a record-breaking peak power demand of 250 GW. This milestone is a reflection of the country’s growing energy needs. He also discusses India’s impressive progress in renewable energy, noting that the country has successfully added 30 gigawatts of new generation capacity. This progress brings India closer to its ambitious goal of reaching 500 GW of non-fossil fuel-based power by 2030.

Key Policy Measures And Challenges

The discussion also touches upon critical policy measures that have driven growth in India’s energy sector. One such measure is the Surya Ghar Muft Bijli Yojana, which provides free electricity to households in India. While this initiative has been a success, Dwivedi also addresses financial viability concerns regarding power distribution companies and the underutilisation of gas-based plants. He emphasizes the importance of improving transmission networks, particularly in light of the growing reliance on renewable energy sources that require enhanced grid stability.

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Looking to the future, Dwivedi outlines key trends and developments to watch for in 2025. He anticipates the ramp-up of domestic manufacturing under the Production Linked Incentive (PLI) initiative for solar energy. Increased private sector participation in power distribution is another area of focus. Dwivedi also points out the government’s ongoing efforts to address transmission bottlenecks, which are crucial for ensuring the smooth integration of renewable energy into the grid.

Navigating India’s Energy Transition

The episode concludes with Dwivedi offering valuable insights into India’s rapidly evolving energy sector. He reflects on the achievements of 2024 and the steps that lie ahead as the country continues to navigate its energy transition, with a focus on renewable energy, infrastructure development, and policy support.

As India advances its energy goals, the coming years will be crucial in shaping a sustainable and resilient energy future.