An investment potential of $250bn opportunity in power sector: Goyal

Higfhlights: 

  • The Indian power sector has an investment potential of $250 billion over the next 5-6 years with opportunities in generation, distribution and transmission.
  • At present,Minister of State for Power, Coal and Renewable energy, Piyush Goyal.
  • An investment of Rs 1 lakh crore was envisaged in the power and energy sector.
  • He also saw a huge opportunity in the mining equipment manufacturing sector for the next few years.
  • Our immediate goal is to double current production by 2019 to be able to achieve the immediate goal of 24x7 power supply to homes, industry, commercial offices, and agriculturists
  • The govt. looking at investments in the range of $250 billion in the next 4-5 years in the power sector.
  • This will include include $150 billion in renewable energy.
  • Currently, coal production in India is nearly 600 million tonnes.
  • Nearly 60% of power in the country comes from thermal plants while rest comes from renewable energy sources like solar, wind, water and biomass.
  • The Govt. have rewritten the solar mission with a target of 100,000 MW by 2022. For wind energy, we plan to increase it from 20GW to 60GW in the same period.