India to invest $44.9 billion in smart grid infrastructure
Smart grid infrastructure investment in India is projected to total $44.9 billion over the period 2017-27, according to a new study.
The increase comes as India's power sector is undergoing rapid transformation as the country faces steep electricity demand growth rates, plans to incorporate large-scale renewable resources and a government eager to modernize the country, the report by Northeast Group said.
"India has always been seen as the largest potential smart grid market for international vendors," according to Ben Gardner, president of Northeast Group. "But until recently, this potential has been slow to materialize, despite extensive government plans and pressing concerns over the $23.2 billion lost each year to electricity theft. We are now finally seeing utilities progress out of the pilot stages with multi-million endpoint smart meter projects recently announced."
India's recently established National Smart Grid Mission has charted out a deployment schedule for the next 10 years, but several utilities are also moving forward with smart grid deployments independent of government plans. These include private franchisees that are deploying smart grid infrastructure to improve poor utility performance. India's smart grid market will vary widely across states, with each state possessing a unique industry structure and regulatory framework.
The largest smart grid market opportunities exist in the states of Maharashtra, Karnataka, Delhi, Tamil Nadu, Gujarat, West Bengal, and Kerala, according to Northeast.
The competitive landscape of India's market is comprised of a number of well-established vendors from both the domestic and international spheres.
Northeast Group's “India Smart Grid: Market Forecast (2017-2027)” is available to order at www.northeast-group.com.