Until 2015, the power sector was largely driven by conventional fuel sources such as fossil fuels for power generation. The major issuecurrently associated with fossil fuels is the hazardous emission of green house gases leading to global warming. Moreover, as the fossil fuels are non renewable in nature, they are not available perennially for the human use. Henceforth, the global power industry is presently entering an era of significant transformation. Since past five years, the electricity se