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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Should l Buy ?
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.
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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.
