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NTPC Ltd achieved gross cumulative generation of 222.4 billion units between April and December 2020, up 3.8 per cent year-on-year, the company said in a statement on Tuesday. India’s largest power generation utility also registered its highest-ever daily gross electricity generation of 1,009 million units on 18 January, it added. The rise in energy generation assumes significance, as it is a key indicator of the country’s economic recovery following the massive disruptions during the covid-19 crisis. Energy consumption, especially of electricity and refinery products, is usually linked to overall demand in the economy.
Power and new and renewable energy minister had earlier said that India’s electricity demand had risen post-covid, with December’s daily consumption at 5-10 gigawatts (GW) higher compared to the year-ago period. It also comes against the backdrop of other economic indicators, such as refineries, goods and services tax (GST) collections, and railway freight witnessing growth. “We have weathered covid well and the entire system is out of it and demand is increasing,” Singh told Mint.
India’s per-capita power consumption, at about 1,149 kilowatt-hours (kWh), is among the lowest compared to the global per capita consumption of 3,600 kWh.
India’s peak electricity demand has also been low due the precarious finances of some state-owned electricity distribution companies, which prevents them from procuring adequate power.
NTPC has pivoted towards green energy. The state-run conventional power generation firm is rewriting its playbook, given that India’s energy landscape is rapidly evolving. With an installed capacity of 63.63GW, the NTPC group has 70 power stations across the country. “The group has over 20GW of capacity under construction, including 5GW of renewable energy projects,” the statement added.
NTPC plans to infuse Rs 1 trillion between 2019 and 2024 to become a 130GW power producer by 2032. It has around 4GW of renewable capacity, mostly solar, and plans to add at least 5GW solar capacity within two years. The state-run company will acquire at least 1GW each of operational solar and wind projects as part of its strategy to have a 32GW clean energy portfolio by 2032.
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