New Delhi: As India faces escalating power demand amidst its transition to sustainable energy, Ashish Upadhyaya, Special Secretary at the Union Ministry of Power, has underscored the necessity of augmenting private sector investment in power generation and transmission.
Addressing the CII South Asia Power Summit, Upadhyaya pointed out that the country’s growing economy necessitates an expansion in generation capacity.
“We have to unleash our potential in the private sector in generation and transmission, both infrastructure areas,” Upadhyaya stated, in the context of India’s record power demand this year, including a peak of 239.9 GW in September.
Union Power Minister R K Singh recently informed about the introduction of 12 GW of new thermal capacity by March 2024, aiming for a cumulative addition of 75 GW by 2032.
This aligns with India’s ambitious target of achieving 500 GW of renewable energy capacity by 2030, highlighting the importance of a robust transmission network.
The urgency of the situation is further illuminated by recent Central Electricity Authority (CEA) data, revealing that only 61.5% of the target for expanding power transmission lines was met in the first half of the fiscal year.
In his speech on regional power connectivity, Upadhyaya emphasized the importance of stable policies, strategic planning against global disruptions, and the need for collaboration between India and Nepal for mutual economic growth.
Gopal Prasad Sigdel, Secretary of the Ministry of Energy, Water Resources, and Irrigation of Nepal, echoed the sentiment, noting, “India’s commitment to net-zero emissions by 2070 can be supported by Nepal and Bhutan in the hydropower sector.”
He advocated for increased cooperation in the power sector and changes in cross-border power trading dynamics, suggesting the establishment of a knowledge exchange platform and other cooperative frameworks.
