Currently, India is the sixth largest power consumer in the world. With plans to add 78.7 GW of power generation capacity till March 2012, India will also be among the largest electricity generating countries. India’s electricity consumption is expected to grow at 8-10% per annum to keep pace with its accelerating economic growth. The sector is expected to offer investment opportunities in excess of around US $ 500 billion over the next decade.
Initiatives such as the Electricity Act 2003, Accelerated Power Development Reform Program (APDRP) and Ultra Mega Power Projects (UMPPs), with annual capacity of 4 GW each by the Ministry of Power augur well in terms of opportunities for professionals focused on this sector. The Indian power sector is at a critical point in its development and its progress is imperative to sustain India’s economic growth.
There is also significant potential in India for generation of power from renewable energy sources, such as Wind, Small Hydro, Biomass and Solar Energy. India is ranked No. 2 in bio-gas with installation of over 40 lakh Biogas plants and No. 4 in Wind Energy Development globally by achieving 7,300 MW power connecting to grids. The Ministry has set a target of 12,000 MW fresh capacity addition in the next five years, including 7,000 MW from the wind energy segment, 2,500 MW from Hydel sources and the rest from co-generation. Overall, the Government is targeting up to 80,000 MW of power generation capacity through renewable sources by 2032.
NTPC has lined up plans to invest Rs. 6,000 crore in creating 1,000 MW of renewable energy capacity over the next 10 years. NTPC also plans to add 30-50 MW from geothermal power projects and 35 MW from small biomass and solar sources.
Given the twin thrust on conventional and renewable energy production, the sector offers exciting employment opportunities in the following types of companies:
- Power Generation companies
- Power Transmission companies
- Power Distribution companies
- Power Consulting & Technical Service Providers
- Tertiary Sector (Finance, Insurance, Banking, Information Technology, Business Advisory & Consulting)
College of Engineering Studies
College of Management & Economics Studies
*Subject to the approval of the Bar Council of India.