27 November 2015: India is poised to demand more new energy over the next 25 years than any other country, according to a World Energy Outlook (WEO) Special Report by the International Energy Agency (IEA). The report, titled ‘India Energy Outlook,’ finds that 600 million new electricity consumers will be added in the country by 2040, requiring more than US$140 billion in energy supply and energy efficiency investments annually.

IEA Executive Director Fatih Birol underscored the need for regulatory reform and expanded investment, saying “India will need to call upon a wider range of investors and sources of finance than it has in the past.”

The report contains sections on the current status and trends of energy in the country, and the outlook for energy consumption and supply in various sectors. India will lead the worldwide demand in new coal consumption, supplied mainly by domestic production, according to the report. The report finds that while oil demand will also grow more than in any other country, most new electricity production will be delivered from non-fossil sources, led by solar and wind power.

Based on these findings, the concluding section explores the implications of an energy transition in India through 2040, delivered with US$2.8 trillion in cumulative investments under the New Policy Scenario. The section also offers an Indian Vision Case, which examines the accelerated realization of key policy targets, including a ‘Make in India’ campaign to promote domestic manufacturing. [IEA Press Release 27 November] [IEA Press Release 28 November] [Publication: India Energy Outlook] [IISD RS Story on WEO-2015]