Coal, Power & Renewable Sectors require an investment of One Trillion Dollar by year 2030

Coal, Power & Renewable Sectors require an investment of One Trillion Dollar by year 2030

New Delhi 15 February 2016: 

Mr. Piyush Goyal, Union Minister of State(IC) for Power, Coal and New & Renewable Energy said that the government is committed to ensure that the poorest of the poor, the person at the bottom of the pyramid, is duly served first with energy access and with a better quality of life. While speaking at Seminar on Power & Coal during Make in India Week in Mumbai today, Shri Piyush Goyal said, “The efforts of Government have ushered the power sector in a new level of growth altogether which provides for the sector a possible investment opportunity, between 2015 & 2020, a five year period, of about $ 250 billion. 

When I extrapolate that to a 15 year programme until 2030 the coal, power and renewable sector alone provides $1 trillion opportunity. Infact the ADB has calculated a $ 2.3 trillion opportunity by 2035”. He further added, “when I talk about $1trillion investment by 2030, it’s a well defined area wise plan- what will go into transmission, what will opening of new mines, how will we bring technology into the coal sector, what will be our push towards energy efficiency, 

How are we going to bring in new coal generating plants which will be environmentally superior plants, what will we going to do about our gas based plants, how are we going to ensure the distribution sector works as a vibrant profitable business for the state discoms- all of these have been drawn out in great details. It provides great opportunity for the investors both in India and International.” 

Referring to the availability of sufficient power and coal today in the country, Shri Goyal said “ we have to look at future and we are engaged in a massive roll out across the value chain of the power sector, be it the fuel availability, be it the expansion of our generating power, massive investment on the transmission side- to ensure that the nation has a seamless grid across the length and breadth of this large country and adequate support to strengthen the distribution sector and make it truly vibrant, reduce losses at the distribution level and make economies of scale with large scale roll out of these programmes helps us keep tariff low, competitive, affordable.” 

The Minister added, “This government believes that we will have to focus our energies on efficiency; we will have to address the severe problem of losses surplus labor being used, losses in the transmission side, power thefts. These are the issues that are focus of this government, more particularly energy efficiency across the country. So that without the stress on the consumers, we can turn around the power sector, we can start ensuring adequate power supply to every farmer, every citizen of this country.” 

Shri Piyush Goyal reiterated that UDAY is not designed on the back of subsidies or government intervention; it is a bottom up programme, its being conceptualize by the joint endeavors of all stakeholders of the power sector. Through UDAY as a fulcrum of the next generation of growth in the power sector, Shri Goyal said “ we do see going forward, a paradigm shift, 

A transformational change in the investment climate in the power sector. And our efforts have been through a series of reforms like UDAY, Tariff Policy, resetting of renewable energy vision, coal block auctions, rationalalization of coal, coal swapping policy, right grading of coal etc are designed to keep power tariffs low and ensure that the consumer in India continue to be served effectively.” 

Web Title: Coal Power Renewable Sectors require an investment of One Trillion Dollar by year 2030