In a recent summit, Union Power Minister RK Singh highlighted the substantial growth in India’s peak power demand, projecting a surge beyond 400 GW by 2030. Singh emphasized the crucial role of electricity as a fundamental infrastructure for development, underscoring its significance in distinguishing between developing and developed nations.
Singh stated, “No country can develop without sufficient power,” pointing out that India has significantly reduced power shortages from around 4.5 percent in 2014 to less than 1 percent presently. He highlighted the achievement of universal electricity access, connecting 29 million homes in just 19 months, recognized by the International Energy Agency as the largest and fastest expansion of energy access in power sector history.
Addressing the escalating power demand, Singh noted that the peak demand, which was approximately 130 GW in 2014, has now reached around 243 GW. With a projected demand crossing 400 GW by 2030, indicating rapid economic growth, Singh assured that the nation would add adequate capacity to meet this surging demand.
“We will surpass 500 GW of renewable capacity by 2030, with plans for 7 million tonnes of green hydrogen manufacturing,” Singh affirmed. He shared insights into the significant investments made in the power sector over the last nine years, totaling around 17 lakh crores, with an additional 17.5 lakh crores worth of capacity under construction.
Singh highlighted India’s progress in renewable energy, with 99 GW of capacity under construction and plans to bid around 40 to 50 GW of renewable capacity annually. He also outlined the status of thermal, hydro, and pumped storage projects, emphasizing the government’s commitment to reducing AT&C losses from 27 percent to 15.41 percent.
“We are constructing battery storage capacity, anticipating a decrease in costs with increased volumes,” Singh added. Noting the rise in module manufacturing capacity from 20 GW to 50 GW, he predicted India would have about 24 GW of polysilicon to module manufacturing capacity by 2030.
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