Power struggles

The crisis in the sector is taking a heavy toll on equipment manufacturers

Sanjit Kundu

It may be hard to imagine given just how bad things are at present, but the golden era for Indian power equipment manufacturers wasn’t all that long ago. Until 2009 and 2010, in fact, power equipment companies were exulting over the India opportunity. The country was the world’s second-largest market for power plants (and, therefore, equipment) and order books were overflowing. The vast increase in power capacity addition projected for the 11th Plan (beginning 2007) required a major boost in equipment supply and projections showed that the power sector had the potential to offer orders of 25,000 MW every year for the next two decades.