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India's thermal power generation capacity expansion has decelerated significantly in the first 11 months of FY25, witnessing a 32% drop compared to the same period last year. Provisional data from the Central Electricity Authority (CEA) indicates that only 3.9 GW of thermal capacity was added up to February 2025, down from 5.7 GW in the same period of FY24. Thermal power plants鈥攑redominantly coal-fired, with some based on gas and diesel鈥攔emain the backbone of India鈥檚 energy mix. The decline in capacity additions has been largely attributed to delays in project commissioning, land acquisition issues, and material supply bottlenecks. 鈥淚n several projects, the majority of the work has been completed, but last-mile execution delays鈥攃aused by issues with contractors, equipment availability, land acquisition and right of way鈥攈ave led to the deferment of commissioning,鈥� explained Vikram V, Vice President and Co-Group Head 鈥� Corporate Ratings, ICRA Ltd. In February 2025 alone, only 1.32 GW was added, less than half of the 2.78 GW added in the same month the previous year, and below the month鈥檚 target of 1.46 GW. This dip comes despite the government鈥檚 roadmap to add approximately 80 GW of new coal-based power capacity by 2032, aimed at addressing India鈥檚 rising energy needs. Growing energy requirement India's energy demand continues to surge, with peak power consumption touching new highs over the past three years. This summer, peak demand is projected to reach 270 GW鈥攅xceeding the 250 GW record set in May 2024. Between April and February of FY25, India generated 1.67 trillion units of electricity, marking a 5% year-on-year rise from 1.59 trillion units. The increase has spurred greater output across both fossil-fuel and renewable sources. Although India aims to source 50% of its installed power capacity from non-fossil fuels by 2030, coal-based generation will continue to play a pivotal role in ensuring baseload supply. As of now, thermal power constitutes 52.6% of India鈥檚 total installed capacity. The CEA projects this share will decline to 42.6% by FY27 and to 31.6% by FY32. Of the total 247.59 GW thermal capacity, coal and lignite comprise 221.81 GW, gas-based 25.18 GW, and diesel-backed 589 MW. In November 2023, the government reaffirmed its plan to install 80 GW of new thermal capacity, estimating a requirement of 283 GW of coal and lignite-based generation by FY32 to meet projected electricity demand.