New Delhi, June 15 -- India's solar energy demand is projected to grow at a 22 per cent compound annual growth rate (CAGR) while overall power demand will rise at 6 per cent over FY26-35E, driven primarily by the rapid expansion of power-intensive data centers.

"We estimate India's power demand to grow at a sustained 6% CAGR over the next decade, driven by economic growth, rising urbanisation, manufacturing expansion and increasing electrification across sectors," according to a report by Nuvama.

As per the report, the country's total power consumption, which stands at approximately 1,848 billion units (BU), is expected to reach nearly 3,228BU by FY35. This represents an incremental demand of more than 1,380BU over the next decade. In a...