New Delhi, July 5 -- India's electricity system is heading into a synchronised reset across generation, transmission and distribution, with transmission capex and energy storage emerging as the critical enablers for the next decade, Macquarie Equity Research said in a research report.

The brokerage expects India's installed capacity to expand from 538GW today to 900GW by FY32E. The growth will follow a dual-track path according to the brokerage. Coal will continue to anchor baseload stability with plant load factors above 65 per cent, while renewables drive the bulk of incremental capacity. However, this transition is contingent on deploying 74GW of energy storage by the end of 2032 to manage intermittency and meet evening peak demand. ...