New Delhi: Union Power and New & Renewable Energy Minister, R. K. Singh, highlighted the significant strides made in India’s power sector during the last nine years, emphasizing a total investment of Rs. 17 lakh crores. Speaking at Moneycontrol’s Policy Next Summit, the Minister provided insights into the sector’s robust expansion, capacity additions, and future plans.
Singh outlined the achievements in power capacity addition, noting an increase of 194 GW, with renewables accounting for approximately 107 GW. The transmission infrastructure has seen substantial growth, connecting the entire country into one integrated grid. The power transfer capacity surged from 36 GW to 117 GW, making it the world’s largest integrated grid.
The Minister highlighted the transformation in rural and urban power availability, reducing the gap from 12.5 hours to around 21 hours in rural areas and 23.8 hours in urban regions. Stringent rules now guarantee 24*7 power, making gratuitous loadshedding a thing of the past.
India’s commitment to renewable energy transition was emphasized by Singh, with 44% of current capacity sourced from non-fossil-fuels against the initial target of 40%. The revised goal aims for 65% capacity from non-fossil-sources by 2030.
He shared that total investments in the power sector reached Rs. 17 lakh crores, with an additional Rs. 17.5 lakh crores for capacity under construction. The renewable energy sector saw 99 GW under construction and around 32 GW under the bidding stage. Annual bids of 40-50 GW are planned, coupled with a substantial thermal capacity under construction.
