By 2031-22, the country’s thermal capacity will need to be expanded to match the nation’s growing need for power, according to estimates from the Power Ministry. Minister of State for Power Shripad Naik told the Parliament on Thursday that this would cost at least Rs 6.67 lakh crore.
He informed the Lok Sabha in a written reply that the Central Electricity Authority (CEA) had conducted generation planning studies in order to satisfy the expected electricity demand by the years 2031-32.
According to the study’s findings, the country’s base load requirements in 2032 are expected to be met by 283 GW of installed capacity, or coal and lignite-based capacity, as opposed to the current installed capacity of 217.5 GW.
In light of this, the Center suggests adding a minimum of 80 GW of new coal-based capacity by 2031-32, according to Naik.
According to the National Electricity Plan, the expected capital cost of establishing new coal-based thermal capacity is Rs 8.34 crore per MW (1,000 MW=1GW). Calculations have been done at the 2021–22 pricing range.
The government intends to increase installed capacity for energy generation that does not include fossil fuels in order to lessen reliance on thermal power plants that run on coal.
India pledges in its Intended Nationally Determined Contributions (INDCs) to attain almost half of its installed capacity for electricity generated by non-fossil fuels by 2030. It has already attained 45.5% of its installed capacity using resources other than fossil fuels as of right now.
The Minister stated that numerous actions have been made to encourage the nation’s production of renewable energy in order to meet this goal. These include waiving Inter-State Transmission System (ISTS) fees for interstate sales of solar and wind power for projects to be commissioned by June 30, 2025, permitting Foreign Direct Investment (FDI) up to 100% under the automatic route, and declaring a trajectory for Renewable Purchase Obligation (RPO) up to 2029–2030.
In addition, the minister mentioned that programs like the 12,000 MW CPSU Scheme Phase II, Solar Rooftop Phase II, and Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) had been introduced to significantly promote renewable energy.
