New Delhi, March 6 -- India's power sector is set to witness strong capital expenditure (capex) growth over the next five years, with annual investment expected to reach around Rs 5 trillion by FY30, according to a report by UBS Research.

The report projected an 11 per cent compound annual growth rate (CAGR) in power-related capex from FY24 to FY30, compared to the current annual spending of approximately Rs 3 trillion.

"We forecast an overall power-related capex CAGR of 11 per cent over FY24-30 reaching more than Rs 5 trillion annually in FY30E, compared with the current annual run rate of around Rs 3 trillion," it said.

The report noted that most of this investment is expected to come from renewable energy projects and the upgrading ...