“$1 tril­lion in­vest­ment in power sec­tor by 2030”

Power Watch India - - DESPATCHES NATIONAL -

“Con­sid­er­ing the ini­tia­tives taken by the govern­ment in the last few years to im­prove ef­fi­ciency, at a con­ser­va­tive level, we ex­pect the power sec­tor to at­tract in­vest­ment of $1 tril­lion by 2030. The power sec­tor, in­clud­ing the coal re­new­able sec­tor, has the po­ten­tial to at­tract a tril­lion dol­lar in­vest­ment,” Power Min­is­ter Piyush Goyal said at ‘Make in In­dia Week’. He said in the short term for the next five years till 2020, the sec­tor is likely to at­tract nearly $250 bil­lion. “Con­sid­er­ing the ini­tia­tives taken by the govern­ment to en­hance its re­new­able ca- pac­ity, we es­ti­mate the re­new­able sec­tor alone will at­tract in­vest­ment to the tune of $1 bil­lion in the next five years,” he said. The trans­mis­sion and dis­tri­bu­tion sec­tor would see an in­vest­ment of $50 bil­lion by 2020, the min­is­ter said. “Our fo­cus on en­ergy ef­fi­ciency by in­creas­ing the use of LED will at­tract an in­vest­ment of $5-7 bil­lion. We have taken a huge step by re­plac­ing street lights with LED bulbs. This ini­tia­tive will help us save nearly 100 bil­lion units of elec­tric­ity and en­sure nearly Rs 40,000 crore of sav­ings an­nu­ally,” Goyal said.

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