India's electricity demand is forecasted to grow substantially over the next five years, with a key role played by the increased adoption of electric vehicles, green hydrogen, and data centers. The Credit Rating Agency ICRA's report highlights that these sectors are expected to contribute significantly to 20-25% of the incremental power demand between FY2026 and FY2030. The growth in demand is also attributed to the rising penetration of EVs across various segments, along with the gradual scale-up of green hydrogen capacity, despite its higher cost compared to grey hydrogen. The report emphasizes the continued focus on renewable energy to meet the growing demand, with a record-high power generation capacity addition expected in FY2026. The thermal power segment is projected to contribute significantly, alongside a boom in under-construction capacity in recent months. This growth is supported by new project announcements by public and private sector players, as well as long-term power purchase bids initiated by state distribution utilities. Overall, the outlook remains positive for India's power sector, with a balanced approach towards meeting the increasing electricity demand through a mix of renewable energy sources, thermal power, and government initiatives.