According to a report by The Financial Express, India’s power sector is expected to attract a massive investment of Rs 4.5 trillion by 2032, driven by growth in generation, grid, and storage segments. This significant investment will play a crucial role in transforming the country’s power landscape and meeting the increasing energy demands of its growing population.
The power sector has been identified as a key area of focus by the Indian government, with plans to achieve 500 GW of non-fossil fuel-based installed capacity by 2030. To achieve this ambitious target, the government has set out a comprehensive plan to boost the development of renewable energy sources, such as solar and wind power.
The generation segment is expected to lead the investment surge, with a focus on renewable energy sources. The government has set a target of achieving 40% of its installed power capacity from non-fossil fuels by 2030, which will require significant investment in solar, wind, and hydroelectric power projects. The grid segment will also see significant investment, with a focus on modernizing and strengthening the transmission and distribution infrastructure to ensure efficient and reliable power supply.
Energy storage is another area that will see significant investment, as the government recognizes the importance of storing excess energy generated from renewable sources to ensure a stable power supply. The development of energy storage technologies, such as batteries, will play a crucial role in supporting the growth of renewable energy in India.
The investment of Rs 4.5 trillion is expected to come from a mix of public and private sources, including government funding, private equity, and debt financing. The government has already taken several steps to encourage investment in the power sector, including the introduction of policies such as the Electricity Act, 2003, and the National Tariff Policy, 2016.
Overall, the expected investment of Rs 4.5 trillion in India’s power sector by 2032 is a positive development that will help the country achieve its energy goals and support economic growth. The focus on renewable energy, grid modernization, and energy storage will help reduce the country’s dependence on fossil fuels and mitigate climate change. With the government’s supportive policies and the private sector’s investment, India’s power sector is poised for significant growth and transformation in the coming years.