Industry news
India plans to increase its projected thermal power capacity additions to 115 GW by FY32-FY34, up from an initial 97 GW, to meet growing electricity demand. This adjustment comes despite rapid renewable energy growth and concerns over fuel availability and maintenance for existing thermal plants.
Westinghouse is progressing with nuclear power plant projects in Poland and the Netherlands, including procurement for AP1000 units and engineering design for large-scale reactors.
NTPC Chairman and Managing Director Gurdeep Singh emphasized the need for affordable, reliable electricity in India, advocating for increased investment in energy storage, grid flexibility, and domestic technologies. He highlighted the importance of developing a domestic manufacturing ecosystem for power sector components to reduce import dependence and enhance energy security.
The American Bureau of Shipping (ABS) and the Department of Energy (DOE) Office of Nuclear Energy have signed an agreement to advance maritime nuclear applications. This collaboration focuses on floating power solutions, nuclear-powered vessels, and the necessary infrastructure for their development and sustainment.
India's power sector is projected to achieve up to 11% year-on-year profit growth in Q2FY27, driven by increased electricity demand and higher plant load factors. Thermal power generation accounted for nearly 69% of the total, with plant load factors rising to 68.3%.
Kalpataru Projects International Ltd (KPIL) has secured new orders totaling approximately ₹2,225 crore in its power transmission and distribution business across India and international markets.
India's total electricity generation increased by 11% year-on-year in the second quarter of FY27, reaching 536 billion units. Non-fossil sources, including nuclear power, contributed to this growth, with renewable power output exceeding 100 billion units for the first time in a quarter.
The Tamil Nadu Power Distribution Corporation (TNPDCL) has finalized agreements for power procurement at record-high prices to address a supply deficit for the remainder of the month.
Small modular reactors (SMRs), currently under development as part of India's Nuclear Energy Mission, are being considered for their potential to decarbonize the steel sector. These SMRs could provide consistent, low-carbon electricity to support the industry's environmental performance.
The power ministry has requested Cabinet approval to extend the Power System Development Fund (PSDF) for the 16th finance commission cycle, covering fiscal years 2027-2031. The fund supports projects that enhance the reliability, security, and stability of the electricity grid.
NASA and the US Department of Energy have signed a Memorandum of Understanding to advance nuclear technologies for space exploration. This collaboration aims to develop fission-powered spacecraft and lunar surface reactors, with a focus on stimulating the supply chain and building the necessary workforce.
A new report indicates that the expansion of India's power transmission network and increasing demand from data centers will create substantial opportunities for the engineering and capital goods sector, with High-Voltage Direct Current (HVDC) technology as a key growth area.