Why is India becoming a preferred destination for energy equipment?

India is emerging as a new, preferred destination for making our energy equipment. We’re boosting demand for Indian products, services, skilled engineers, and semi-skilled labor. Our initiative could speed up India’s integration into the global value chain for energy infrastructure. A rising tide lifts all boats.

What is India's energy consumption?

India is the third-largest consumer of energy in the world. According to the Ministry of Power, the country’s peak demand reached a record high of 223 gigawatts (GW) in June 2023, a rise of 3.4% from the highest level in 2022, and consumption is projected to continue rising.

What is India's energy demand?

With a population of approximately 1.4 billion and the world’s fastest major growing economy, India’s energy demand is growing rapidly. Fossil fuels dominate India’s power sector, but the country has ambitious goals to significantly increase the share of renewable and nuclear energy.

How big is India's module manufacturing capacity?

India adding big capacity According to various projections, module manufacturing capacity in India is projected to grow 172 GW and that of cell capacity to reach over 80 GW by 2026.

Is energy storage a competitive advantage in India?

Currently, U.S. energy storage technology enjoys a global competitive advantage, but suppliers will likely need to establish strong relationships with local business partners to enter this fast-developing market. India’s regulatory and policy environment for energy storage is also continuing to evolve.

Why is India a good place to invest in energy infrastructure?

It’s home to leading industrial-equipment manufacturers with a proven track record in high-tech manufacturing and EPC (engineering, procurement, and construction) services. India has another strong advantage: a growing base of suppliers and vendors that underpins the supply chain for energy infrastructure.