Thermal power will continue to cater to base-load demand and renewable energy will boost capacity addition going forward, Adani Power Ltd. said on Friday.
There is a significant potential for growth in energy demand in the country, with the aggregated demand for power expected to double by the financial year 2032. Power demand is estimated to be at 2,274 billion units in 2031–32, compared to 1,511 BU in the last fiscal, the thermal power producer said in its investor presentation.
Thermal power's contribution to the base load grows at a compound annual growth rate of 6.6%. Fossil fuel's contribution to serving the country's total power demand is expected to fall to 50% by fiscal 2032 from 74% in FY23, according to Adani Power. However, the contribution is still likely to be higher than from other power sources.
The installed capacity for non-fossil-fuel energy sources is expected to grow at a CAGR of 8.1%. The capacity is likely to increase to 900 gigawatts in fiscal 2032 from 382 GW in fiscal 2021, it said.
Adani Power said its growing capacity utilisation would serve the growing demand of the country.
Its wholly owned subsidiary, Mahan Energen Ltd., has a 1,600-MW thermal-power capacity under construction as of now. The power generator has proposed a further 5,500-MW capacity addition and currently, it has 15,250 MW of operational assets.
The company said operational prudence in fuel management, logistics and plant maintenance, with a focus on technology adoption, would drive efficiency and plant availability.
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