New Delhi, Oct. 24 -- India's power sector is projected to attract Rs 29-30 lakh crore in capital expenditure over the next five to six years, driven by rising electricity demand, capacity additions, grid modernisation and energy storage, according to ICRA.

Annual investment is expected to reach Rs 5-6 lakh crore to meet growing demand and strengthen power infrastructure.

Of the total outlay, Rs 18 lakh crore is earmarked for generation, Rs 5 lakh crore for transmission, Rs 3 lakh crore for distribution and another Rs 3 lakh crore for energy storage.

Electricity Demand Expected To Grow 5-6% In Medium Term

Electricity demand has broadly tracked real GDP growth, recording a 10-year CAGR of 4.7 per cent during FY15-FY25 against GDP growt...