Energy is at the nucleus of most critical economic, environmental and developmental issues in the world today. Clean, efficient, affordable and reliable energy consumption is almost indispensable for global growth and prosperity.
India, the third-largest economy in the world is also home to one-sixth of the world’s population. However, it only accounts for a staggering 6% of global energy consumption. This implies that one in five of the Indian population, that is 240 million people, are still living without any access to electricity. (India Energy Outlook Report, International Energy Agency, 2015)
A perpetual power deficit close to 10 % and resulting shortage of energy supply is pushing businesses and industries to adopt inefficient means of power generation that are not only costly but also damaging to our environment. India is incessantly accelerating in terms of modernisation, industrial development, urbanisation; and entering a sustained period of rapid growth in energy consumption. With increasing demands, there is clearly a need to rethink and restructure India’s power infrastructure and energy dependencies.
An estimated population of 1.2 billion (approximately 17%) of the global population is living without electricity. Energy access is critical in achieving sustainable human development.