The Power Industry can attract One Trillion Dollar Investment by 2030: Shri Piyush Goyal

During the term of five year, the power industry is reckoned to attract an investment figured to $250 billion. Government’s task of rural electrification mission emphasizing no village without electricity access and coal swapping plus fresh policies for the electricity sector would aid in attracting this investment, said Union power and coal minister Piyush Goyal at the Make in India summit.

Commenting on coal and power abundance in the country, 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.”

Energy efficiency is a concern, giving relief to the consumers and addressing the power outrage and providing power supply to every farmer and abroad every citizens.

Through government’s various 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 well set to mitigate power tariffs low.

The minister also highlighted on the county’s global share of LED consumption which witnessed a significant growth from 0.1% to 12% in just 2 years on the global scale and the LED programme will save 100 bn units of electricity and $6.5 bn every year for consumers.