Industry News

Government has taken initiatives which focus on attracting more funds towards renewable energy projects

India:  Government of India has asked state-run power distribution firms such as Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) to focus more on funding towards renewable energy projects. The government is planning to attract an investment of USD1 billion for the same. The amount receive in the process would help the firms to utilize the cash in lieu of loans given to the state-run firms post implementation of Ujwal Discom Assurance Yojana (UDAY). TechSci Research depicts that the government has taken up various initiatives including Deen Dayal Upadhyaya Gram Jyoti Yojna for electrification of rural pockets of India, which has spurred significant investments in the country’s power sector. Notable technological upgrades are underway to reinforce the country’s transmission and distribution network, which would continue to drive the demand for power and distribution transformers in India. Considering the negative impact of these technological developments on the environment, the industry has been undergoing a paradigm shift towards green technologies.  

According to recent released report of TechSci Research, “India Power & Distribution Transformers Market Forecast & Opportunities, 2020”, the power and distribution transformers market in India is projected to grow at a CAGR of over 10% till 2020. Power transformers contribute to a major portion in overall market revenues due to their higher price points. Under the 12th five-year plan (2012-2017), Indian government allocated USD200 billion for strengthening the country’s power generation, transmission and distribution sector. 

Relevant News