Exclusive: India asks utilities to order $33 billion in equipment this year to boost coal power output
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 03 2024
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Source: reuters
- India's Power Equipment Orders: India is pushing power companies to order $33 billion worth of equipment this year to boost coal-fired power capacity due to high electricity demand.
- Unprecedented Government Move: The government's decision to expedite equipment orders will lead to record tendering by major power firms like NTPC, SJVN, Adani Power, and Essar Power.
- Ambitious Targets: The goal is to add 31 gigawatts in the next 5-6 years, a significant increase compared to previous annual orders of 2-3 GW.
- Challenges Faced by India: India faces power shortages, necessitating the rush to build new coal-fired plants to meet demand during non-solar hours.
- Industry Impact: Policy changes and lack of orders in recent years led to the closure of manufacturing units of some equipment suppliers in India.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
