New Delhi, Aug. 13 -- India's peak power demand is set to rise sharply in the coming years as the country's electrification drive gathers pace, with total demand expected to hit 335 gigawatts (GW) by FY30.

UBS Research estimates that India will require a total power generation capacity of 780GW by FY30, implying an annual growth of 10 per cent, faster than the 6 per cent average GDP growth recorded between FY15 and FY25. The link between GDP and power demand is also shifting. Historically, peak power demand grew at 0.85 times the rate of real GDP growth, but with increased electrification across industries and households, this is expected to rise to nearly 0.92 times.

The next five years are projected to see the addition of 305GW of pow...