According to Moody’s this situation will be exacerbated by the fact that it expects India to register a power surplus over that period, thereby pressuring the utilisation rates of thermal generators.

A report, entitled Power Sector India: Growth in Renewable Energy Capacity Will Challenge Fossil Fuel Operators, points out that renewable energy capacity is expected to grow to 175GW by 2022 compared to the current 37GW.

Moody’s