Upgrading power projects may lead to savings of $3 bn: GE

Upgrading power projects may lead to savings of $3 bn: GE

New capacity addition in India’s thermal power sector may be hurt by the problems in the beleaguered sector but there is a huge opportunity in upgrading existing projects, which could potentially lead to savings of $3 billion in power bills and reduce emissions, Andrew DeLeone, managing director of engineering major GE’s India power business told ET.

The Indian thermal power sector has been crippled by a lack of power purchase agreements, which has rendered projects stranded, many other power units are running below capacity and some are facing delays in payments. Private sector companies are reeling under heavy debt and while the government has taken measures to revive the health of state-run power distribution companies, industry players don’t see recovery in the foreseeable future.

“Economics of new thermal power plant is very difficult right now. But that also gives us the opportunity to run the existing plants better and make them more profitable. Read More

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