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Sustainability Solutions
India’s Power Sector Shifts Focus: Opportunities for Thermal Power Equipment & Clean Tech Suppliers Amid Renewed Coal Dependency
Krishnan & Associates, a global energy and power industry marketing and market analytics firm, has observed a significant shift in the Indian power generation landscape. The industry is increasingly reverting to coal-fired power generation as a reliable solution to address the intermittency of renewable energy and the unproven scalability of energy storage technologies. India is planning to add more than 80,000 megawatts of new coal-fired generation capacity while also considering the revival of several stranded assets to meet its growing economic power demands. This move is further driven by the limited availability of natural gas for cleaner, gas-based base load power generation.
Supply Chain Challenges for Thermal Equipment
As India ramps up its thermal power generation capacity, a critical challenge has emerged: the lack of competitive suppliers for thermal power equipment. Over the past seven to eight years, several Indian and global manufacturers of coal-fired power plant equipment have exited the market, citing a global pivot away from coal-fired generation in favor of renewable energy. Major players, including US, and Korean have withdrawn from the Indian thermal power market. The Chinese companies are not preferred by government entities due to geo-political issues. Consequently, the supply of essential equipment now relies heavily on BHEL and, to a lesser extent, L&T for boilers, turbines, and generator equipment.
This lack of competition has led to increased prices, longer delivery timelines, and limited negotiation power for power producers. Many stakeholders in the Indian power sector have raised concerns to K&A over these challenges, which are further compounded by the absence of alternative suppliers.
India Power Week: Connecting Stakeholders
In response to these supply-side constraints, some restrictive contractual terms, such as the "Deed of Joint Undertaking," which previously deterred foreign suppliers may have to be relaxed. This change creates a significant opportunity for global equipment manufacturers willing to re-enter the Indian market and provide much-needed competition to BHEL. Many Indian power producers have expressed strong interest in engaging with international suppliers to diversify their options, reduce costs, and accelerate project timelines.
In light of these developments, Krishnan & Associates is organizing a two-day conference, “India Power Week”, in Delhi this May. The event aims to connect qualified thermal equipment suppliers with key stakeholders in the Indian coal-fired power industry. Interested suppliers are encouraged to submit their capabilities to Krishnan & Associates to facilitate meaningful interactions and foster a competitive market environment.
For more information, please email info@krishnaninc.com or fill out the form below and we will get back to you on how to participate.