Electricity demand to grow 5-5.5% in FY26; 44 GW capacity addition likely: ICRA

ICRA estimates the all-India thermal plant load factor (PLF) to remain flat at 70.0 per cent in FY2026, compared to 69.5 per cent in FY2025. This is despite an expected addition of 9–10 GW thermal capacity, with renewable energy sources contributing significantly to the generation mix.