India is likely to require Energy Storage Systems (ESS) of over 2,400 Giga Watt Hour (Gwh) capacity to cater to the needs of all the major sectors of the economy, according to India Smart Grid Forum (ISGF).
The total power generation from conventional fuel sources reached 1.38 billion units (BU) in 2018-19, The total power generation from conventional fuel sources including hydro and renewable energy sources has registered a compound annual growth rate of 5.45% from 1.17 billion units (BU) in 2015-16 to 1.38 BU in 2018-19, Minister of Power, New and Renewable Energy R K Singh said.
A slowing pace in awarding road projects will significantly impact the top-line growth of engineering, procurement, and construction (EPC) developers, from 30% in 2019 to 10% in the near term.
According to ratings agency CRISIL, the sector once again, seems to be facing many roadblocks, slowdown in awards, delays in execution owing to postponement of appointed dates, slow pace of land acquisition and elusive financial closures.
Coal Minister Pralhad Joshi said India houses the fourth largest resources in the world yet thermal coals were being imported and should be stopped.
The minister said he has also asked Power Minister R K Singh to ask NTPC to totally stop the imports. All thermal power plants have a stock of 23 days which is the highest ever in recent history, he added.