With climate change posing a major threat, EV infrastructure is set to scale rapidly to meet net-zero goals by 2070 and cut fuel imports. EV penetration must grow 8x in eight years to exceed 40%, creating a $118 bn market with 27 mn EV sales in 2032. After FAME II, the GOI launched the PM E-Drive Scheme to boost EV adoption across the spectrum, while PLI initiatives support the “Make in India” thesis.
Read MoreIndia's Battery Energy Storage System (BESS) sector is on the cusp of unprecedented expansion, driven by ambitious renewable energy targets, energy self-sufficiency objectives, and decarbonization imperatives. With its capacity projected to soar to 66 GW by 2032—a sevenfold increase—this sector will play a pivotal role in achieving net-zero emissions by 2070. As a cornerstone of India’s sustainable energy future, the BESS sector, backed by innovative technologies, supportive policies, and strategic investments, is set to power the nation’s green ambition.
Read MoreIndia’s RE sector is poised for a paradigm shift, driven by significant policy reforms. In the solar segment, implementation of ALMM is expected to lead to a 10x increase in cell and a 2x growth in module manufacturing by FY27. Wind is set for revival through strategic policy interventions viz. repowering policies and RPO-driven incentives. Complementing these developments are hybrid storage and FDRE projects exhibiting a 6x increase in awards.
Read MoreIndia’s ambitious energy goals call for a significant expansion of the country's power infrastructure. To meet the target of doubling the current power capacity to 900 GW by 2032, an estimated investment of INR 10 Lakh Crore in transmission capacity is needed. With over 90% of this growth expected through Tariff-Based Competitive Bidding (TBCB) projects, we foresee a 5x acceleration in the development of the power transmission sector.
Read MoreWith its introduction in July 2021, the RDSS has provided momentum to the GOI’s plan to install 25 cr smart meters across the country. Smart meters are a pre-requisite for the nation to deliver more sustainable, efficient, and reliable power. We estimate AMISP project awards to grow at ~20% CAGR over the next 3-4 years. Our industry report intends to showcase the present status of the sector, key government initiatives and the industry outlook.
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