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India expected to spend $1 trillion on power infrastructure by 2030: Piyush Goyal

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power infrastructureSpeaking on the ​sidelines of the India-Australia Energy Dialogue​, ​Power Minister Piyush Goyal​ said that ​India likely to spend ​USD 1 trillion (Rs 65 lakh​ crore) crore ​in the power ​Sector by 2030 to meet its growing demand​​. The world’s largest energy consumer — India is aiming to provide 24/7 electricity across the nation by increasing it’s power infrastructure. Mr. Goyal said that the power sector in the country is at an inflection point and the focus is on developing an integrated outlook with transparent policies on tariffs and fuel pricing, which enhance the ease of doing business. India’s focus is on LNG for power plants, coal mining, clean coal technologies, renewable energy, R&D as well as tie-ups with premier research institutes, he added. India has set an ambitious plan to add 175 GW of renewable energy generation capacity by 2022. The country aims to have 100 GW of solar power by 2022 along with 260 GW of thermal and nuclear generation and 62 GW of hydro generation capacity. As per International Energy Agency (IEA) estimates, India would invest about USD 845 billion in T&D (transmission and distribution) networks between 2015 and 2040 to ensure universal access to power for customers. The minister said India has one of the toughest regulations on thermal power. The minister said for India to further strengthen its position on creating a sustainable environment.

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