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Power Minister RK Singh said on Tuesday that the country’s peak power demand rose by 80 per cent between 2014 and 2023, while installed power capacity rose by almost 70 per cent during the same period.
In his inaugural address at the three-day exhibition and conference organised by Indian Electrical and Electronics Manufacturers’ Association (IEEMA) in Mumbai, the Minister emphasised on the efforts being made by the government to provide 24x7 reliable power to industries and households.
He noted that peak demand went up from 136 gigawatt (GW) in 2014 to 243 GW in 2023, registering about 80 per cent growth, while installed power generation capacity has gone up by almost 70 per cent — from 249 GW to 426 GW.
India is the fastest growing large economy and that has been made possible because of the electricity sector. Without electricity there is no industrialisation and the demand for electricity is growing in the country. Hence, there is a huge market for manufacturers in the electricity sector, he added.
The Union Power Minister said that more capacity is being installed at a great pace so that more Power Producers and Suppliers (PPS) come forward and the general public may get 24x7 electricity supply.
“We have installed Renewable Energy (RE) capacity of 1,79,570 megawatt (MW), 43 per cent of our total capacity, and another 99,000 MW is under installation. My Ministry has rolled out the plan for 500 GW generation as well as transmission system for evacuation of this power,” he noted.
Speaking about hydel power, the Minster said that 18,000 MW of hydro power capacity is presently under construction.
He also urged the stakeholders to work for hydro power storage and immersible pumps as there is a capacity of 40,000 MW Pumped Storage Projects (PSPs) at various stages of clearance. He also urged that hydro power components should be manufactured in India and not imported.
This year, the host utility for the event is Maharashtra State Electricity Distribution Company (MSEDCL). IEEMA is the apex association of manufacturers of electrical, industrial electronics and allied equipment in India.
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