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Nomura projects 7% CAGR in India’s power demand through FY27

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Nomura has projected robust growth for India’s power sector, forecasting a compound annual growth rate (CAGR) of over 7% in electricity demand from FY24 to FY27.  This surge is fueled by rising economic activity, increased electrification, and demand growth in emerging sectors such as data centres, electric vehicle (EV) charging, and green hydrogen production. Changing weather patterns, which have contributed to recent supply shortages, are also anticipated to drive demand. Electricity consumption is expected to…

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Global energy system faces rising risks amid geopolitical strains: IEA

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The International Energy Agency (IEA) highlighted the vulnerabilities in the global energy system, exacerbated by regional conflicts and geopolitical tensions, in its World Energy Outlook 2024. The IEA underscored the need for stronger policies and investments to hasten the energy transition. Despite these challenges, the agency expects a relatively abundant supply of various fuels and technologies in the coming years, including oil, LNG, solar PV, and batteries. IEA Executive Director Fatih Birol noted that an…

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Power supply and allocation overview for September 2024

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Peak Power Demand Northern Region: The Northern region saw a substantial peak demand, with Uttar Pradesh leading at 30,618 MW, followed by Rajasthan and Punjab. While the peak met rate was largely consistent with demand, regions like Jammu & Kashmir and Uttarakhand saw deficits. Jammu & Kashmir experienced a 12.4% shortfall in meeting the demand, which stood at 3,236 MW, while Uttarakhand faced a smaller gap of 2.9%. Western Region: Maharashtra recorded a high peak…