AI, EVs And Data Centre’s: Powering India’s Next Growth Cycle

India’s peak power demand is projected to reach 300 GW by 2027, driven by the rapid expansion of data centers’, artificial intelligence (AI), and electric vehicles (EVs). The country has already touched 271 GW, highlighting the accelerating pace of electricity consumption.

As renewable energy capacity expands, energy storage is becoming a national priority. India is targeting 160 GW of storage capacity by 2035, while battery energy storage requirements are expected to reach 888 GWh by 2035-36. Reflecting this momentum, installed battery storage capacity has already increased 11x to 8.7 GWh in the first half of the year.

The story is no longer just about generating more power, it is about building the infrastructure to support India's digital economy, electrification, and industrial growth. Batteries, grid infrastructure, transmission, and energy storage are set to play an increasingly critical role in the next phase of India's energy transition.

India’s future growth will require more power, smarter grids, and large-scale energy storage. As a house, we remain positive on the power, battery, and energy transition ecosystem, with portfolios having exposure to businesses benefiting from India's long-term electrification, digital infrastructure, and clean energy buildout.

Source: Economic Times. Data as on: 9th July 2026

Source: MOAMC Internal. Portfolio data as on: 30th June 2026.

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