India, Oct. 15 -- India's power industry is coping with increasing electricity consumption as well as the shift towards renewables. While existing power providers still continue to provide electricity via their extensive generation assets, renewable power providers are actively investing in solar, wind, and hybrid projects to increase power generation through renewables.

NTPC and Adani Green Energy can be considered examples of two distinct business models. NTPC is an integrated power utility with generation assets, both thermal and renewable and additional energy-related operations. On the contrary, Adani Green Energy is engaged exclusively in renewable power generation; therefore, its financial results depend on capacity expansion and...