Indian Power Industry - Current Scenario & Opportunities Ahead - Document Transcript

1. INFRASTRUCTURE & GOVERNMENT Power Sector in India White paper on Implementation Challenges and
Opportunities For release at the Energy Summit, Nagpur - January 2010 KPMG IN INDIA
2. Table of Contents 1 Indian Power Industry - Current Scenario & 2 Opportunities Ahead 2 Central and State
Utilities Dominate the 3 Industry 3 Challenges and Risks 4 4 Project Management Principles to Address 10
Challenges 5 Summary and Conclusion 12
3. 1 Executive Summary While the power sector in India has witnessed a few success stories in the last 4-5 years,
the road that lies ahead of us is dotted with innumerable challenges that result from the gaps that exist between
what’s planned versus what the power sector has been able to deliver. This document highlights and quantifies
some of these gaps and attempts to analyze the problem. The document builds on the risks prevalent in the
industry, some prominent hurdles that the power sector has already crossed, and more importantly - others that
various players have to overcome. Understanding these core issues & risks of the power sector help in identifying
the opportunities that lie ahead; for example why is private sector participation an important requirement. A short
peek at our past performances indicate that during the last three five year plans (8th, 9th and 10th), we have
barely managed to achieve half of the capacity addition that was planned. As we enter the third year of the 11th
five year plan, we have already seen slippages on the planned approx. 79 GW capacity addition. Once we break
the problem down and identify the bottlenecks, we may be able to better understand the integration challenges
that such large projects pose. While there may be heavy dependencies on equipment suppliers and challenges
around logistics and work-front availability – with the right and timely application of project management
principles along the lifecycle of the project, one can strive to achieve increased project completion against
baselines. Certain best practices around stakeholder management, integrated project and asset development
and interdependency mapping across various entities can help improve overall project planning. Once we
understand the practical implementation challenges, various teams and people get aligned to the overall strategy,
then the delivery on our estimated plans becomes more of a reality. © 2010 KPMG, an Indian Partnership and a
member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative
(“KPMG International”), a Swiss entity. All rights reserved.
4. 2 Indian Power Industry - Current Scenario and Opportunities Ahead Generation Distribution India has the fifth
largest generation capacity in the world While some progress has been made at reducing the with an installed
capacity of 152 GW as on 30 September Transmission and Distribution (T&D) losses, these still 20091, which is
about 4 percent of global power remain substantially higher than the global benchmarks, at generation. The top
four countries, viz., US, Japan, China approximately 33 percent. In order to address some of the and Russia
together consume about 49 percent of the total issues in this segment, reforms have been undertaken power
generated globally. The average per capita through unbundling the State Electricity Boards into consumption of
electricity in India is estimated to be 704 separate Generation, Transmission and Distribution units kWh during
2008-09. However, this is fairly low when and privatization of power distribution has been initiated compared to
that of some of the developed and emerging either through the outright privatization or the franchisee nations
such US (~15,000 kWh) and China (~1,800 kWh). route; results of these initiatives have been somewhat The
world average stands at 2,300 kWh2. The Indian mixed. While there has been a slow and gradual government
has set ambitious goals in the 11th plan for improvement in metering, billing and collection efficiency, power
sector owing to which the power sector is poised the current loss levels still pose a significant challenge for for
significant expansion. In order to provide availability of distribution companies going forward. over 1000 units of
per capita electricity by year 2012, it has been estimated that need-based capacity addition of more than 100,000
MW would be required. This has resulted in massive addition plans being proposed in the sub-sectors of
Generation Transmission and Distribution. Transmission The current installed transmission capacity is only 13
percent of the total installed generation capacity3. With focus on increasing generation capacity over the next 8-
10 years, the corresponding investments in the transmission sector is also expected to augment. The Ministry of
Power plans to establish an integrated National Power Grid in the country by 2012 with close to 200,000 MW
generation capacities and 37,700 MW of inter-regional power transfer capacity. Considering that the current inter-
regional power transfer capacity of 20,750 MW4, this is indeed an ambitious objective for the country. 1
Netscribes, “Power Sector – India” March 2009 , 4 Ministry of Power Website, “POWER FOR ALL BY 2012” and
National 2 CEA Electricity Plan, by Central Electricity Authority, August 2007 3 Ministry of Power Website, June
2009 © 2010 KPMG, an Indian Partnership and a member firm of the KPMG network of independent member
firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
5. 3 Central and State Utilities Dominate the Industry The entire value chain of the power sector is dominated by
Program (APDRP) for distribution, permission for trading of the central and state sector utilities. For instance, in
the power, etc7. Furthermore, the National Tariff Policy of 2006 generation space, out of the overall capacity of
152 GW, encouraged private investment in the transmission sector the share of central and state utilities stands
at 49.8 GW through competitive bidding. In addition, the allocation of and 76.6 GW, respectively; and that of
 private sector captive coal blocks to private companies was one of the stands at 25.8 GW. Even, of the 78.7 GW
planned capacity many noteworthy reforms, increasing the fuel security for additions during the 11th five-year-
plan, central and state the end use project. utilities together are estimated to add nearly 63.7 GW5. Aided by the
ambitious plan to add around 78.7 GW of The story remains pretty much the same in power additional generation
capacity in the 11th plan by the year transmission and distribution space. The central and the 2012, according to
CRISIL Research estimates, about INR state utilities own nearly 40 percent and 60 percent, 7,50,000 crore is
likely to be invested in the power sector respectively of the total transmission lines of 2.7 million over the next five
years by 2013-14. Of this, INR 4,80,000 circuit kilometers (ckm). Power Grid Corporation of India crore is
expected to be invested in the power generation Ltd (PGCIL), the central transmission utility (CTU), is the space.
Nearly half of the investments in the power largest transmission company in India6. generation space is likely to
be made by the private sector8. Along with generation this has opened up Similarly, in distribution, the SEBs own
nearly 95 percent of opportunities in the transmission sector as well.In order to the distribution network6.
encourage private sectors in transmission line business, Government of India issued guidelines for private sector
Regulations are evolving and paving the participation. way for greater private sector These developments have
given rise to new opportunities participation for the private sector especially in the power generation space. As a
result, there have been a plethora of new Being a highly regulated sector, not surprisingly policies projects
announced by the private sector companies many and regulations are playing a pivotal role in the of whom are
negligible or have no prior experience in this development of this sector. Over the years, the sector. government
has realized the importance of the private sector participation. The Electricity Act, 2003 was a turning This has
given birth to the adage of Plans vs. Plants by point in the reforms process which removed the need for clearly
distinguishing between growth and value utilities. license for generation projects, encouraged competition through
international competitive bidding, identified The new entrants in this sector face a number of transmission as a
separate activity and invited a wider challenges relating to the project execution, fuel security, public and private
sector participation among other things. power equipment capacities, infrastructure constraints, etc. The purpose
of this dossier is to present a high level Some of the other major reforms that have been overview of the key
challenges and the risk factors. implemented over the years include: unbundling of SEBs, tax benefits,
Accelerated Power Development and Reform 5 CEA estimates 8 CRISIL Research, “Power Annual Review –
Opinion” August 2009 , 6 CRISIL Research, “Power Annual Review – State of the Industry” July 2009 , 7 KPMG
Research © 2010 KPMG, an Indian Partnership and a member firm of the KPMG network of independent
member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights
reserved.
6. 4 Challenges and Risks As the Indian power sector is embarking on increasing the The biggest indicator of a
poor track record is the inability generation and transmission capacities, key challenges lie to meet targets on the
power generation capacity ahead which also resulted the historical underperformance. additions. Variance with
the target has been as high as 50 percent in the past. An indication of targets and actual additions is provided in
the table below: Project Execution – Needs to be Plan Targets Vs. Achievements (MW) expedited India has
historically failed to meet its power sector targets by a significant margin and with tremendous opportunities
ahead, the power sector continues to be affected by the shortfall both on generation as well as transmission side.
For example, for the current installed capacity of around 152 GW, the inter-regional transmission capacity is only
about 20 GW (13 percent of the installed capacity). The various proposals in generation and transmission are
currently under different implementation stages. However, Source: Planning Commission, Goovernment of India
the power sector in India has been plagued with a set of problems for meeting the planned targets. Although
measures have been defined by the policymakers and stakeholders in a sense of complacency that the issues
will indeed be resolved and India will plug the supply deficit of power to resolve the same but looking at the past
record, it can be estimated that the resolution measures may not be implemented. © 2010 KPMG, an Indian
Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG
International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
7. 5 For the 10th Five year plan various reasons have been identified for slippage. They range from inadequate Fuel
Availability preparedness of projects, shortage of equipment to the While additional gas supply from KG Basin
has eased delay in financial closure. The shortage of equipment by shortage to a limited extend, supply
constraints for BHEL has been identified as a major cause of delay in the domestic coal remain and are expected
to continue going timely completion of the power generation projects. An forward. Consequently, public and
private sector entities analysis of reasons is provided below: have embarked upon imported coal as a means to
bridge Table 1 Major reasons of slippage during 2002-07 (MW) the deficit. This has led to some Indian entities to
take upon the task of purchasing, developing and operating coal mines Thermal Hydro in international
geographies. While this is expected to secure coal supplies it has again thrown upon further Delay in super
critical 3960 challenges. For example, the main international market for technology tie up by BHEL coal supply to
India – Indonesia, poses significant political Geological Surprises 510 and legal risks in the form of changing
regulatory framework Natural Calamities 450 towards foreign companies. Similarly, coal evacuation from mines in
South Africa is constrained by their limited railway Delay in award of works 998 823 capacity and the capacity at
ports is controlled by a group of Delay in Ministry of 400 existing users making it difficult for a new entrant to
 ensure Environment & Forestry reliable evacuation9. In this case it is essential to manage clearance the risk of
supply disruption by different options like – Investment decision/ 1500 1400 diversification of supply, due
diligence on suppliers, Funds tie up constraints/ unambiguous contracting and strict monitoring among delay in
financial closure others. Delay in Preparation of 400 DPR & signing of MOU The failure to achieve the planned
target from the captive with State Govt. coal blocks presents itself as a major challenge to the power ESCROW
cover (Private 500 sector, as only 24 blocks have become operational out of Sector) the total 210. Experts
believe that the non-operational status R&R issues 400 of majority of these blocks is attributed to land acquisition
Court Cases 675 (R&R) issues, permit delays and infrastructure problems10. In addition, the developers who
have been given the charge Law & Order problem 500 of captive blocks are not putting diligent efforts to expedite
Total 7458 5058 the mining operations due to their lack of experience in coalmine development. Source: The
Working Group on Power for 11th Plan, Planning Commission Coal is the mainstay of the power production in
India and is expected to remain so in the future. Additional power The target for the current 11th Plan is
ambitious, at 78,700 generation is likely to require incremental amount of coal MW, but the first 2 years have
already seen a slippage. transportation by Indian Railways within the country and increasing unloading at ports in
India for imported coal. In Some of the specific challenges have been elaborated in the both cases India currently
faces capacity shortage. Hence, a following paragraphs: project developer has to account for and manage its
logistics chain in a manner that minimizes disruption to its fuel supply. In many cases this is likely to involve self 9
KPMG Research 10 Infraline Report on Captive Coal Blocks in India, 2009 © 2010 KPMG, an Indian Partnership
and a member firm of the KPMG network of independent member firms affiliated with KPMG International
Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
8. 6 development of relevant supply infrastructure which poses additional project execution complexity for the
developer. Equipment Shortage For example, some imported coal based power plants are Equipment shortages
have been a significant reason for also forced to set up an unloading jetty for coal carrying India missing its
capacity addition targets for the 10th five shipping vessels. This has to be ensured before the year plan. While
the shortage has been primarily in the core commissioning of a power plant which requires an alternate
components of Boilers, Turbines and Generators, there has set of project execution skills in the port sector. been
lack of adequate supply of Balance of Plant (BOP) equipment as well. These include coal-handling, ash- handling
plants, etc. Apart from these, there is shortage of construction equipment as well. The Working Group on Power
for 11th Plan has outlined the requirement for construction equipment for Hydro and Thermal power plants. Hydro
Projects Table 2 Requirement of construction equipment for Hydro Projects Particulars of Estimated Available
Augmentation Equipment Requirement Required Hydraulic Drill Jumbos (1 to 3 boom) 210 85 125 Hydraulic
Excavators (0.2 to 5.2 cum) 520 210 310 Loaders 540 220 320 Dozers 420 165 255 Dumpers (12T to 35 T) 730
290 440 Road Rollers 55 20 35 Raise Borer/Climber 45 20 25 Concrete Batching plant (30 to 360 cum/hr) 210 85
125 Aggregate Processing Plant (50 to 600 TPH) 110 40 70 Tower Crane (6.5 to 10 T) 120 45 75 Shutter with
travellers 470 190 280 Dry Shotcrete machines 440 180 260 Wet Shotcrete machines 130 50 80 Cranes (5 T to
60T) 405 160 245 EOT/ Gantry Cranes (10T to 20T) 175 70 105 Source: The Working Group on Power for 11th
Plan, Planning Commission © 2010 KPMG, an Indian Partnership and a member firm of the KPMG network of
independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity.
All rights reserved.
9. 7 Thermal Projects The major equipment required to be deployed for simultaneous construction of 24 projects of
less than 500 MW and 21 projects of more than 500MW is summarized below. Table 3 Requirement of
construction equipment for Thermal Projects Particulars of Equipment Estimated Requirement Available
Augmentation Required 325 T Fm Crane Or Equivalent 47 12 30 Sumitomo crane or equivalent 150 t 177 120 57
Crawler mounted crane 100 t 90 72 18 Crawler mounted crane 75 t 444 312 132 Mobile crane - 20 mt / 8 mt
1206 732 474 Mobile crane – 40 mt 156 98 58 Heavy duty trailer 20-50 mt 1206 732 474 Dumpers 3540 3540 -
Dozers ( heavy duty d-6 & d-8) (hydraulic) 132 68 64 Vibro compactors 444 312 132 Concrete pump 444 312 132
Truck mounted concrete pumps with placing boom 177 100 77 Transit mixer (min. 5 cum.Capacity) 884 528 356
Batching plant (more than 30 cum. / hr. Capacity) 288 166 122 Rotaritory hydraulic piling rig 177 100 77
Compressors 177 100 77 DG sets 354 200 154 Boring equipment for trench less construction 45 31 14 Welding
machines 12060 12060 - Slip form equipment 45 41 14 Strand and jack arrangement for boiler 21 1 20 ETDA
cleaning arrangement for boiler 21 1 20 Passenger cum goods lifts for boiler 156 98 58 Induction heating
machines 156 98 58 Gantry Crane 156 98 58 Pock lain 444 312 132 Tipper 3120 1960 1160 Source: The
Working Group on Power for 11th Plan, Planning Commission © 2010 KPMG, an Indian Partnership and a
member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative
(“KPMG International”), a Swiss entity. All rights reserved.
10. 8 To alleviate supply shortage of equipment two measures are being adopted – enhancement of domestic
equipment Financial manufacturing capability by establishing JVs between Indian Rapid build up of the
generation capacity is being aided by and foreign suppliers and second measure is procuring setting up of Ultra
Mega Power Projects (UMPPs) each of equipment directly from international markets. In both cases which is
4000 MW. However, the execution of the Ultra equipment sourcing needs to be managed effectively Mega Power
Projects (UMPP) is a significant challenge as throughout the procurement cycle. For instance, it may be a India
 has not witnessed an execution of such a large scale challenge for new project owners to select a reliable power
project before. Furthermore, with each UMPP costing supplier, monitor its performance and ensure the quality of
above INR 16,000 Crore, financing such a large project is a supply on a sustained basis. Also, the timelines for
critical constraint for any developer. In addition, considering availability of additional domestic equipment supply
has not the high financial stake involved through private been clearly defined. investments, delay in payments
may put severe pressure on developers/suppliers to meet the performance commitments. Land Acquisition and
Environment Clearance Manpower Shortage Land Acquisition poses an increasingly significant challenge There
is a general consensus that shortage of talent in the in the Indian Power sector. Power plants and utilities face
construction sector is a long term problem and is likely to major constraints and delays regarding the availability
of continue to push up project costs and risks. The flow of land and obtaining the requisite environment and other
talent into construction and power sector has been gradually clearances for the projects. The new Bill relating to
land drying up as candidates have sought an alternative – and acquisition has continued to face political
opposition. While often more lucrative – career options. The Government, it provides for acquisition by project
development agencies which is the biggest buyer of the capital projects, has also to the extent of 70 percent of
the land required for a not done enough to address this challenge. The education project, with the balance to be
obtained by the Government. system is often not delivering the required number of In addition, it has been
reported that in some cases, even specialists across project management, engineering, after land owners were
asked to sell and handover their land estimating, surveying and contract management. Facing a in ‘Public
Interest’, the project was not completed for desperate game of catch up, the industry needs a genuine several
years due to other delays, a fact that eroded the collaboration between project owners, contractors and credibility
of both the industry and the government. governments to attract more school leavers and graduates.
Consequently there is a significant mismatch of Companies should also seek to stay in touch with changing
expectations from the Project Affected Persons (PAP). employee aspirations. By encouraging diversity in its
Stakeholders or other land owners may collectively object of employment practices and by offering greater
flexibility in the project execution. In such cases, it is essential to working hours, the sector can reach out to a
wider potential proactively manage the environment and stakeholders’ audience that perhaps would not
previously have considered expectations. such a career. Investment in existing employees is also crucial in order
to offer better-defined career structures, with a greater focus on training and higher salaries where possible. ©
2010 KPMG, an Indian Partnership and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
11. 9 The profile of manpower shortage at supervisory staff level in hydro power and thermal power sector is outlined
below: Category Estimated requirement Available Augmentation required Hydro Power Sector Senior level
Executives 550 330 220 Middle level Executives 2000 1200 800 Junior level Executives 4300 2600 1700 Non
executives 1700 1000 700 Total 8550 5130 3420 Category Estimated requirement Available Augmentation
required Thermal Power Sector Senior level Executives 1014 660 354 Middle level Executives 3702 2400 1302
Junior level Executives 7308 5040 2268 Non executives 12780 8280 4500 Total 24804 16380 8424 Source: The
Working Group on Power for 11th Plan, Planning Commission From the perspective of power generation
projects, it is Schedule Dependency on Transmission critical for project specific transmission projects to be set up
Lines before the commissioning of the plant to enable timely evacuation of power. This adds another scheduling
Significant enhancement in construction activity is likely to constraint for the project. be required to meet the 11th
plan target of additional transmission capacity. A significant portion of this enhancement is likely to be in the
North Eastern region, Sikkim and Bhutan, which have difficult terrain reducing the margin of error for project
execution. Additional transmission capacity is required to evacuate power from surplus regions to supply to deficit
regions and to enable electricity trading. This is essential to meet the target of ‘Power for all’. Hence, the criticality
of implementing transmission projects cannot be ignored. In this context, it is imperative to establish sound
project management principles to the sector to help ensure timely completion of projects. © 2010 KPMG, an
Indian Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG
International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
12. 10 Project management principles to address challenges A common theme across the challenges enumerated
project reporting system enables the project owner to earlier is the need for sound project management efficiently
keep track of all the aspects of project execution principles in a well-structured framework. This is likely to thus
helping ensure problems are addressed and resolved enable the project owner to clearly evaluate all aspects of
in a timely manner. project execution across the project lifecycle. A sound © 2010 KPMG, an Indian Partnership
and a member firm of the KPMG network of independent member firms affiliated with KPMG International
Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
13. 11 The project management framework shown above can contribute to a structured manner of addressing the
typical challenges of the Indian power sector throughout the Stakeholder Identification and Communication
Planning project life-cycle and aid in managing the power projects better. The main buckets under which all the
challenges of Stakeholder identification is required in the project’s early the power sector can be addressed are:
stages to measure their expectations and assess their impact on the overall project life-cycle. The impact can be
on a. Project Strategy, Organization & Administration the design or construction scheme which can adversely b.
 Cost and Financial Management affect the project schedule and budget. Therefore, R&R and clearance planning
should be in place before the project c. Procurement Management plan is finalized. Communication planning can
eliminate the mismatch between stakeholders’ expectations, helping d. Project Controls, Quality & Risk
Management ensure the buy-in from all affected parties to prevent any e. Schedule Management hurdles in the
future. For example, all the project affected persons (PAPs) should be consistently involved through-out By
tracking each of the aspects in a well-defined framework, the project to make the planning for balance work
realistic the reporting on project execution becomes focused. and achievable. Few examples of how some
processes of the framework The fact that land acquisition and permits are major can address the major
challenges are illustrated below. concerns for captive coal blocks operations exemplifies that stakeholder
identification and communication planning was missing during the 11th plan formulation. Procurement planning
and management This is a key element which-is essential to execute and Schedule Integration monitor a project
successfully. A detailed procurement level planning that can address the current challenges of fuel Schedule
integration enables building a detailed master availability and equipment shortage. By addressing the schedule
where dependencies across different projects constraints of coal transportation through Indian railways plans and
external factors can be built in and addressed and ports availability, a realistic procurement plan can be regularly.
Schedule integration is the key to avoid any gaps prepared showing the overall impact on the achievement of and
mismatch between stakeholders’ planning and the 11th plan. Addressing these constraints upfront can
expectations. The impact of major dependencies such as bring the needed transparency upfront and is likely to
trigger equipment supply (BTG etc.), land acquisition and R&R, and the corrective actions on timely basis in case
of negative environment clearances can be ascertained in the master deviations. schedule and addressed
prudently. Planning for construction equipments becomes a critical aspect of procurement planning, achievement
of which can assess the vendors’ reliability and provide well established vendors to be used for future projects. ©
2010 KPMG, an Indian Partnership and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
14. 12 Summary and Conclusion It is evident that the deficit in power availability in India is a also indicate the
presence of a weak project management significant impediment to the smooth development of the structure
which does not assess all the key project economy. In this context, bridging the gap in demand and aspects.
supply has become critical and consequently, large projects As discussed initially, the overall intent of this paper
is to are being undertaken in different segments of the sector; highlight the opportunities and challenges of the
power Generation, Transmission and Distribution. As India has not sector, and the project management drivers
that are witnessed such a large scale of implementation before, required to address these challenges. there is a
need to review and enhance project execution capabilities to help ensure targets are met. The table below
summarizes the key implementation challenges and drivers for successfully achieving the This strongly
necessitates employing a comprehensive implementation of power generation plans. project management
structure to address the major challenges of the power sector projects and to be able to deliver them as per the
planned targets. Historical records Table 5: Key implementation challenges and drivers for success in power
sector Key Challenges Measures being adopted Resulting issues Drivers for determining success Addition of
significant generation Technical and financial capability to Project execution UMPP capacity execute such large
projects Costs/Cash flow management Risks increase manifold Risk Management strategy and planning
Purchase and development of coal Risks in operating in different Risk management through effective Ensuring
fuel availability and quality mines abroad geographies. Eg. – political risks contracting, supply diversification, etc.
Uncertainties in logistics operations Control over supply infrastructure Robust procurement management, Plant
equipment shortage Procurement from abroad Vendor reliability vendor monitoring Setting up of new supply units
Execution timelines Project scheduling Inadequate communication with Land acquisition and environment
stakeholders resulting in mismatch of Speeding up processes Environment and stakeholder management
clearances expectations from project affected persons Manpower shortage Enhance training Resource planning
and management © 2010 KPMG, an Indian Partnership and a member firm of the KPMG network of independent
member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights
reserved.
15. in.kpmg.com KPMG in India KPMG Contacts Bangalore Kochi Vikram Utamsingh Maruthi Info-Tech Centre 4/F,
Palal Towers Executive Director and 11-12/1, Inner Ring Road M. G. Road, Ravipuram, Head - Markets
Koramangala, Bangalore – 560 071 Kochi 682 016 +91 22 3090 2320 Tel: +91 80 3980 6000 Tel: +91 484 309
4120 [email protected] Fax: +91 80 3980 6999 Fax: +91 484 309 4121 Jai Mavani Chennai Kolkata
Executive Director and No.10, Mahatma Gandhi Road Infinity Benchmark, Plot No. G-1 Head - Infrastructure and
Nungambakkam 10th Floor, Block – EP & GP, Sector V Government Chennai - 600034 Salt Lake City, Kolkata
700 091 +91 22 3090 1920 Tel: +91 44 3914 5000 Tel: +91 33 44034000 [email protected] Fax: +91 44 3914
5999 Fax: +91 33 44034199 Raajeev Batra Delhi Mumbai Executive Director 4B, DLF Corporate Park Lodha
Excelus, Apollo Mills Governance, Risk and Compliance DLF City, Phase III N. M. Joshi Marg Services Gurgaon
122 002 Mahalaxmi, Mumbai 400 011 +91 22 3090 1710 Tel: +91 124 307 4000 Tel: +91 22 3989 6000
[email protected] Fax: +91 124 2549101 Fax: +91 22 3983 6000 Manish Agarwal Hyderabad Pune Executive
Director 8-2-618/2 703, Godrej Castlemaine Infra Advisory Reliance Humsafar, 4th Floor Bund Garden +91 22
 30901770 Road No.11, Banjara Hills Pune - 411 001 [email protected] Hyderabad - 500 034 Tel: +91
20 3058 5764/65 Tel: +91 40 3046 5000 Fax: +91 20 3058 5775 Fax: +91 40 3046 5299 The information
contained herein is of a general nature and is not intended to address the circumstances of any © 2010 KPMG,
an Indian Partnership and a member firm of particular individual or entity. Although we endeavor to provide
accurate and timely information, there can be no the KPMG network of independent member firms affiliated
guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in
the with KPMG International Cooperative (“KPMG future. No one should act on such information without
appropriate professional advice after a thorough examination of International”), a Swiss entity. All rights reserved.
the particular situation. KPMG and the KPMG logo are registered trademarks of KPMG International Cooperative
(“KPMG International”), a Swiss entity. Printed in India

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While the power sector in India has witnessed a few success stories in the last 4-5 years, the road that lies
ahead of us is dotted with innumerable challenges that
result from the gaps that exist between what’s planned
versus what the power sector has been able to deliver. This document highlights and quantifies some of these
gaps and attempts to analyze the problem. The document builds on the risks prevalent in the industry, some
prominent hurdles that the power sector has already crossed, and more importantly - others that various players
have to overcome.Understanding these core issues & risks of the power sector help in identifying the
opportunities that lie ahead.

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