“Rupesh D Sankhe of Elara Capital is strongly bullish on the Indian power sector, forecasting a 7-10 year supercycle driven by 5-6% annual power demand growth, a significant acceleration from historical averages. This surge is fueled by deepening residential and industrial electrification, alongside new consumption from EVs and data centers. He expects installed capacity to reach 750-800 GW by 2030 and 1,100 GW by 2032-36, supported by easing grid bottlenecks and improved discom finances, noting that current valuations of 2.5-3x P/B are not expensive given the long-term capex cycle.”