India will spend around $21.6 billion in funding smart grid technology development during 2015-2025, according to a study by Northeast Group.
In November 2014, Prime Minister Modi announced $4 billion in funding for smart metering programs.
India will adapt smart grid infrastructure to deal with the increasing electricity theft problem and improve efficiency.
Theft costs the Indian power sector $16.2 billion per year.
Maharashtra state alone loses $2.8 billion per year, more than all but eight countries in the world.
In a national level, total transmission and distribution losses approach 23 percent whereas losses of some states exceed 50 percent.
Additionally, over $8 billion is available for loss reduction programs and dozens of projects are now underway across India’s 29 states.
According to the report, India’s electricity demand growth is set to exceed 7 percent per year over the next decade.
In addition to smart metering, current pilot projects focus on distribution automation and wide area measurement, as well as home energy management and IT.
Overall power sector investment will include adding 43 million new electricity connections and nearly 3 million kilometers of new circuits.
India represents the large long-term smart grid opportunity in the world, for international players.
International vendors are expected to compete against leading Indian vendors like Secure, Genus, HPL, Larsen & Toubro, Avantha, Reliance and others.
Sabeena Wahid
editor@greentechlead.com
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