“2020 has been an unprecedented year that released massive unpredictability into the power sector. Power demand had weakened and DISCOM health turned even more delicate. Delay in project execution led to a hefty inventory buildup across the value chain. Businesses had to reconceptualize ways to keep their people safe, ensure business continuity and adapt to a rapidly evolving situation to restore demand. It seemed we had to take one day at a time and commit to making the right decisions that helped India build back better when normalcy returned.
In hindsight, however, the year brought out the best in us. A culture of innovation ensured we, as a company, could rebound as quickly as possible. We made digital technology our ally and see how the future will be heavily dependent on it. Work culture and business processes, from boardroom to the field, will be handled on a single interconnected platform, necessitating the entire power infrastructure to be upgraded without ado. We don’t know how the next crisis can look like.
In recent years, India has made considerable strides in the power and energy sector. It has improved markedly through the creation of a single national power system and major investments in renewable capacity. It is now experiencing higher shares of variable renewable energy as well. Given the hardships unleashed by the pandemic, the government put its weight behind the power sector with a massive stimulus package and various incentives and initiatives for connected segments such as EVs and green energy.
We look forward to its continued efforts in creating an enabling climate in which technology-enabled infrastructure can flourish. We hope to see a greater focus on grid digitalization, energy efficiency, transport electrification besides system integration and interconnections. We are deeply encouraged and are confident of India’s fundamental growth drivers and progress toward a carbon-neutral future in which electricity forms the backbone of the entire energy system.”
