Globally the Power and Energy sector is undergoing a rapid transformation owing to its shift in focus towards cheaper and sustainable alternative of renewable energy sources, depleting fossil fuel reserves, decarbonization commitment of the stakeholders and achievement of energy security through technology, backed by policy support and investment. While reliability of supply chain and efficiency of logistics for renewable energy generation, transmission and distribution still remains a key challenge, the fossil-fuel based power generation poses the crucial imperatives of distribution resiliency, operational efficiency, and capacity management and scalability.
Innovation is believed to be the fundamental aspect for improving the sustainability and resilience in energy generation, storage and distribution. The disruption occurring in this sector coupled by the forces of cost pressures, political uncertainty and technology advancement, is believed to bring greater opportunities for the stakeholders to create long-term value and be prepared for the future. This would necessitate more balanced use of natural resources to preserve available land, water and bio-diversity resources and respond to climate changes.