Essar Power to commission Paradip phase II by 2017

India: Essar Power has successfully completed the 120MW Paradip power plant (Phase I) in Odisha and is all set to commission the second phase (2x30 MW) of the project by 2017. The plant has been developed as a captive power plant to meet the requirements of the company’s 12 million tonne pellet plant in Odisha. The company is focusing on completing all under-developed projects in the shortest period of time to achieve the target of operationalizing 6,100MW in the next few years.

TechSci Research depicts that with the addition in the generation capacity, government plans to meet the rising demand of electricity in India. India has been witnessing a significant rise in power demand for the past few decades on account of rapid growth in population, industrialization and urbanization. The enhancement in the power transmission capacity requires installation of higher capacity transformers in the network to meet the requirements of power transmission, thereby creating the demand for power & distribution transformer market in the country.

According to a released report of TechSci Research “India Power and Distribution Transformers Market Forecast & Opportunities, 2020”, India is the second-largest power transformers market in APAC and was valued at USD1.81 billion in 2014 and is projected to grow at a CAGR of over 10% till 2020. Government is focusing on adding power generation capacity from conventional and renewables sources which would increase the orders for power related companies like ABB, Siemens, BHEL & Alstom T&D. 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.