India is experiencing one of the most rapid social and economic transformations in the world. Its economy is projected to expand to more than five times its current size by 2040. Energy access and a higher share of renewable energy are some of the leading development challenges for India in order to meet the energy demand for an increasing population, increase domestic production of energy, reduce dependence on energy imports, provide renewable energy for industrial growth and ensure poverty alleviation.
According to projections from the International Energy Agency, India alone will account for 30% of the global increase in energy demand from 2017 towards 2040. Today, between 200 and 300 million people live without access to electricity and India is planning a significant expansion of power capacity concerning first and foremost renewable energy sources but also thermal and an extensive agenda focused on energy efficiency and energy savings.