India’s power sector is a crucial element of the nation’s growth story. With an installed capacity of 411.64 GW as of January 31, 2023, India is the world’s third-largest producer and consumer of electricity. The government’s ambitious target of achieving 500 GW of renewable energy by 2030 will require significant investments and infrastructure development.
To address the annual coal demand-supply mismatch, the Ministry of Power has identified 81 thermal units that will be replaced with renewable energy generation by 2026.
The energy sector in India is a key focus area for the government, as reflected in the National Infrastructure Pipeline 2019-25. Energy sector projects accounted for the highest share (24%) of the total expected capital expenditure of US$ 1.4 trillion, highlighting the government’s commitment to investing in this sector.(data input from iebf.org)
The power consumption in India has been growing rapidly, and in December 2022 alone, it saw an 11% increase to 121.19 billion units. As India’s population and per-capita usage continue to increase, investment in the power sector will remain critical for the nation’s sustainable growth and development.
National Thermal Power Corporation Limited (NTPC)
NTPC Limited, formerly known as National Thermal Power Corporation, is an Indian central Public Sector Undertaking under the ownership of the Ministry of Power, Government of India which is engaged in the generation of electricity and allied activities. The headquarters of the PSU is situated in New Delhi. It has an installed capacity of over 66,000 MW and is involved in both thermal and renewable power generation. It generates power from coal, gas, hydro, solar, nuclear, and renewable energy sources. It also offers consultancy, project management, and supervision services.
| Operating Revenue | Over INR 500 cr |
| EBITDA | 17.51 % |
| Networth | 7.62 % |
| Debt/Equity Ratio | 1.34 |
| Return on Equity | 12.58 % |
| Total Assets | 3.29 % |
Tata Power
Tata Power, a subsidiary of the Tata Group, is a major player in India’s power sector, with an installed capacity of over 12,000 MW. The company generates, transmits, and distributes electricity, with a diverse portfolio that includes thermal, hydro, solar, and wind power plants. Tata Power is particularly active in the renewable energy sector, with a focus on solar and wind power. Its wind power plants are spread across seven states in India, and it has a portfolio of over 7 GW of ground-mount and rooftop solar projects.
Additionally, Tata Power has installed over 55,000 solar water pumps in India to date and offers various solar solutions for both urban and rural markets. The company is committed to providing energy access to millions of people across India through its integrated solar solutions.
| Operating Revenue | INR 1 cr – 100 cr |
| EBITDA | 9.93 lac % |
| Networth | 1,613.43 % |
| Debt/Equity Ratio | 58.83 |
| Return on Equity | 106.61 % |
| Total Assets | 4,471.67 % |
Adani Power
Adani Power is an Indian power and energy company that is part of the Adani Group. Based in Khodiyar in Ahmedabad, it is a private thermal power producer, with a capacity of 12,450 MW and operates a mega solar plant of 40 MW at Naliya, Bitta, Kutch, Gujarat. Adani Power primarily generates power from coal but has been expanding its renewable energy portfolio in recent years.
The company operates several coal-based thermal power plants across India, with a total installed capacity of over 11 GW. Adani Power also has a subsidiary called Adani Green Energy Limited, which is involved in renewable energy generation. Adani Green Energy operates solar and wind power plants with a total installed capacity of over 14 GW in India and overseas.
| Operating Revenue | Over INR 500 cr |
| EBITDA | 15.83 % |
| Networth | -0.87 % |
| Debt/Equity Ratio | 0.72 |
| Return on Equity | -1.08 % |
| Total Assets | 21.95 % |
Reliance Power
Reliance Power Limited is a leading private sector power generation company in India, with a diversified portfolio of coal, gas, and solar power plants totaling over 6 GW. The company is actively investing in renewable energy and operates the Sasan Ultra Mega Power Project, including a coal mine and power plant with a capacity of 3,960 MW.
In recent years, Reliance Power Limited has been actively investing in renewable energy and has several solar and wind power projects in various stages of development. The company has recognized the need for sustainable power generation and reducing its carbon footprint and is working towards achieving these goals.
| Operating Revenue | INR 1 cr – 100 cr |
| EBITDA | -27.52 % |
| Networth | 3.27 % |
| Debt/Equity Ratio | 0.67 |
| Return on Equity | -3.02 % |
| Total Assets | -0.48 % |
NHPC Limited
NHPC Limited is a government-owned company that specializes in hydropower generation in India. With an installed capacity of over 7 GW, NHPC has completed several hydroelectric power projects in India and neighboring countries. The company is committed to sustainability and has implemented measures to minimize the environmental impact of its projects.
NHPC has developed several hydroelectric power projects across India and neighboring countries, including the Subansiri Lower Hydroelectric Project in Arunachal Pradesh and the Teesta VI Hydroelectric Project in Sikkim. Alongside power generation, the company also focuses on the construction and maintenance of transmission lines and substations.
| Operating Revenue | Over INR 500 cr |
| EBITDA | 1.61 % |
| Networth | 5.81 % |
| Debt/Equity Ratio | 0.78 |
| Return on Equity | 10.56 % |
| Total Assets | 6.03 % |
JSW Energy
JSW Energy is a renowned power generation company in India that has been at the forefront of the country’s transition towards renewable energy sources. With an installed capacity of over 4,500 MW, JSW Energy has established itself as a significant player in the Indian energy market, with a focus on developing and operating power plants that harness the potential of renewable energy sources like wind, hydro, and solar power.
The company has a robust presence in several states in India and is renowned for its commitment to sustainable development. JSW Energy is a pioneer in executing innovative and high-quality projects that deliver reliable and efficient power generation solutions. Overall, JSW Energy’s expertise in renewable energy, combined with its focus on sustainability, makes it a valuable asset in India’s energy landscape.
| Operating Revenue | Over INR 500 cr |
| EBITDA | -9.02 % |
| Networth | 23.75 % |
| Debt/Equity Ratio | 0.08 |
| Return on Equity | 1.60 % |
| Total Assets | 8.56 % |
Power Grid Corporation of India Limited (PGCIL)
Power Grid Corporation of India Limited (PGCIL) is a government-owned company that serves as a backbone to the Indian power sector. It is responsible for the transmission of electricity across the country, utilizing an extensive network of transmission lines that stretch over 160,000 kilometers. The company has also undertaken several inter-state transmission projects that facilitate the exchange of power between different states.
PGCIL is committed to the sustainable development of the Indian power sector, with a focus on clean and green energy. The company has undertaken several renewable energy projects, including the development of transmission infrastructure for solar and wind power projects.
| Operating Revenue | Over INR 500 cr |
| EBITDA | 5.27 % |
| Networth | 7.98 % |
| Debt/Equity Ratio | 1.88 |
| Return on Equity | 17.15 % |
| Total Assets | -0.48 % |
