Citi Sees India's Power Demand Rising 5%-6% Annually Amid Energy Buildout

India’s power sector is set to grow by 5-6% each year in the medium term as investments in both thermal and renewable power generation are projected to surge amid growing demand from electrification, data centers, cooling demand, and manufacturing, according to Citi.

India is currently seeing its first-ever multi-vector capital expenditure upcycle with investments in solar, wind, coal, and grids all rising, according to a report by Citi Research cited by Indian media.