What,Store,For,The,Indian,Powe business, insurance So, What Is In Store For The Indian Power Sector? Find Out.
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This side of the story is all about positivity, progress, and hope, but, then, there is one more side of the story. Read on. The last couple of years have been a horrible experience for the power producers, including wind power companies; during this period, they have constantly reeled under an economic downturn and high borrowing costs; they faced a funding crunch and delays in land acquisition and project approvals, such as environmental clearances; theyve faced fuel shortages that led to increased dependency on imports of fuel, and then an increase in the prices of foreign coal. Its mainly the fuel issues that are obstructing the way for the Indian Power Sector; thought the central government is actively involved in improving the plight of the power sector, the road is still likely to be full of bumps for the power producers, including wind power companies. The power sector is the biggest consumer of coal, absorbing 78% of domestic production, but it is still heavily dependent on imports of coal to meet its fuel demands. The recent hikes in prices of foreign coals have left no choice for the power producers, but to pass on the burden to the consumers, by increasing the power tariffs. True, there are challenges that power companies will have to face, but still the power sector is hopeful for a brighter as well as greener tomorrow. Now the sector isnt only thinking about electricity generation through captive power plant, but also have started exploring and exploiting the renewable energy sector. Wind power companies have set up quite a handful of wind farms in the recent years, and contribute to electricity production in the country. Its not only the wind power companies that flicker the hope, but also the way solar power companies have been performing, and energizing the power sector. Now as Indias power minister, Jyotiraditya Scindia, puts it, Turing out the power sector will, of course, be a long-haul project, but all the measures that have been put in place, if executed well, hold out the promise of regenerating one of the growth engines of the $2 trillion economy. So, lets be hopeful! And, lets keep fingers crossed till the next big thing happens in the sector.
What,Store,For,The,Indian,Powe