Union Minister R K Singh Announced Rs 17.05 Lakh Crore Investment In Energy Sector – EQ
In Short : Union Minister R K Singh announces a substantial investment of Rs 17.05 lakh crore in the energy sector. This significant financial commitment reflects the government’s focus on advancing energy infrastructure, promoting sustainability, and fostering economic growth in India.
In Detail : New Delhi : Union Minister R K Singh declared a substantial investment of Rs 17.05 lakh crore in the energy sector. The funds are earmarked for the power and renewable energy domains, attracting a cumulative investment of about 16.93 lakh crore since 2014, as stated by Singh on Monday.
In his briefing on the recently introduced Electricity (Amendment) Rules 2024, Singh highlighted that a total of Rs 16.93 lakh crore has been infused into the power and renewable energy sectors, as reported by ET.
The detailed breakdown includes Rs 11.2 lakh crore directed towards generation, distribution, and transmission, with an additional Rs 5.73 lakh crore allocated to the renewable energy sector.
Singh further emphasised the allocation of Rs 7.4 lakh crore for the power sector and Rs 9.65 lakh crore for the renewable energy sector.
Singh also revealed that a power plant with 80 GW of thermal power generation capacity is currently under construction, anticipated to be operational by 2030.
Simultaneously, approximately 99 GW of renewable energy is currently in the construction phase.
Notably, he projected India’s power generation capacity to surpass 800 GW, a substantial increase from the current 428 GW.
India’s ambitious plan includes bidding out 50 GW of renewable energy projects annually.
