"The state of the Indian power sector today is an acknowledged constraint to the country’s growth aspirations. This book examines the home-grown Indian experience with private sector participation in power, identifies emerging risks, and proposes specific actions for government consideration, so that the power sector may fulfill its important role in India’s growth story. Seeking financing, efficiency, and project management skills from the private sector to complement public sector efforts, the state governments and the central government have invited private participation in power for the past two decades. They have followed a continuously evolving process starting with the independent power producer policy of the early 1990s, which sought only to attract new investment in generation. Despite these efforts, the rate of growth in energy supply has not kept pace with the growth in demand. Much more private sector investment and engagement in the sector is likely to be required to compl
