India’s power demand to grow 6-6.5% annually through FY2030, driven by EVs, data centres, green Hydrogen: Icra

India’s power demand is projected to surge by 6.0-6.5% annually over the next five years, fueled by EV adoption, data center expansion, and green hydrogen projects. While renewables will dominate capacity growth, a significant uptick in thermal projects is also underway. However, increased rooftop solar adoption may partially offset this rising grid demand.