Power Minister Unveils India's Power Sector Triumphs and Future Roadmap
Minister Singh detailed the achievements in power capacity addition and the fortification of the electricity distribution system.
January 20, 2024. By Abha Rustagi
Minister Singh detailed the achievements in power capacity addition and the fortification of the electricity distribution system. He disclosed that India added approximately 194 GW of power capacity, with around 107 GW dedicated to renewables. The nation constructed 193,0000 circuit km of transmission lines, creating the world's largest integrated grid, connecting the entire country on one frequency. The power transfer capacity surged from 36 GW to 117 GW, accompanied by the addition of substations, upgrading of existing infrastructure, and extensive line installations.
As a result of these efforts, rural power availability increased from 12.5 hours in 2015 to approximately 21 hours today, while urban areas now enjoy 23.8 hours of continuous power. Minister Singh highlighted the significance of the 24x7 power supply, stating that it is now a right, and gratuitous load shedding by distribution companies (DISCOMs) is subject to penalties, with consumers eligible for compensation.
India's leadership in the global energy transition was a key focus of the Minister's address. The country's rapid renewable capacity addition, currently at 187 GW, has surpassed the initial target of 40 percent by 2030, reaching 44 percent. Minister Singh announced an ambitious goal of achieving 65 percent of India's capacity from non-fossil sources by 2030.
Minister Singh shared key financial statistics, noting that the total investments in the power sector over the last nine years amounted to approximately 17 lakh crores. The ongoing capacity under construction represents an additional investment of around 17.5 lakh crores, covering various segments, including renewable energy, thermal capacity, and hydro capacity.
The Minister highlighted the government's commitment to transforming the power sector into a viable and efficient entity. He noted the significant reduction in Aggregate Technical and Commercial (AT&C) losses from 27 percent to 15.41 percent, with further targets set at 10 percent to 11 percent. Stringent rules and regulations are being enforced, with violators subject to prosecution.
Speaking about the surging power demand, Minister Singh revealed that peak demand, which was around 130 GW in 2014, has now reached approximately 243 GW. The projected peak electricity demand by 2030 is expected to exceed 400 GW, reflecting the rapid growth of the economy.
In response to the rising demand, Minister Singh assured the nation of the government's commitment to adding sufficient capacity, aiming to surpass 500 GW of renewable capacity by 2030. The Minister also highlighted India's competitiveness in renewable energy, with the cost being the cheapest globally, despite subsidies and protectionist measures adopted by some countries.
The Minister discussed the government's plans for energy storage capacity, with 35 GW of Pumped Storage Projects in the pipeline. He announced a Production Linked Incentive Scheme for grid-scale storage to further reduce storage prices.
In conclusion, Minister Singh reiterated India's commitment to sustainable development, its leading role in climate change action, and the business-friendly regulatory environment introduced to promote green energy open access and connectivity across the country.
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