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Indian Electricity Market: Country Study and Investment Context, The
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Program on Energy and Sustainable Development Working Paper #48

August 16, 2005 - Updated July 2006

India stands out in the IPP study as the second largest developing country market and features an evolving legal and regulatory regime created in the early 1990s specifically to promote investment in greenfield independent power projects.  India's electricity sector, which straddles state and federal jurisdictions, and India's experience with a diverse range of greenfield independent power producers have produced dramatic variation in investor strategies and outcomes, ranging from the disastrous Dabhol Power Project in Maharashtra to the modestly successful GVK project in Andhra Pradesh and

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