India must commit $145 billion yearly to power generation, storage technologies, and grid overhauls to harmonize its economic boom with net-zero aspirations, according to a pivotal Wood Mackenzie report.
The Tuesday release tracks India’s solid progress toward 1.5 billion tonnes of coal by 2030, bolstered by coal gasification drives to infuse variety into the energy landscape.
Expect natural gas demand to escalate dramatically—from 72 billion cubic meters in 2024 to exceeding 140 billion by 2050—with industries fueling over two-thirds, holding steady above 55% dominance.
Economic-climate mismatches persist, yet India’s ascent as a solar and battery powerhouse challenges China’s monopoly. Amid global derisking, India’s manufacturing prowess delivers a telling edge.
‘Urgent energy security measures paired with low-carbon evolution will cement India’s world-class economy,’ declared Joshua Ng, Wood Mackenzie’s Asia Pacific Vice Chairman.
On the $1.5 trillion horizon spanning 2026-2035, Rashika Gupta, Power and Renewables VP, clarified: ‘Investments extend to robust networks for reliable electricity delivery.’ Accelerating reforms, especially the Electricity Amendment Bill, will ignite private participation through competitive dynamics.
Oil and gas endure as essentials; import dependency on crude might soar to 87% by 2035, necessitating homegrown production hikes and appeals to international firms.
By embracing this investment imperative, India can master its energy destiny, powering progress sustainably.