India's Power Shortage Reduced To Less Than 1%: R.K. Singh

New Delhi, Jan 20 (KNN) Union Minister for Power and New & Renewable Energy, R. K. Singh, revealed that India has made substantial strides in reducing its power shortage, decreasing it from around 4.5 percent in 2014 to less than 1 per cent.

Speaking at an industry event in New Delhi on January 18, 2024, the minister emphasised that India is well on its way to surpass its initial target, aiming to achieve 65 per cent of its power capacity from non-fossil-fuel sources by 2030, a notable increase from the original goal of 40 per cent.

Singh underscored the unprecedented expansion of energy access, connecting 29 million homes in just 19 months, marking the largest and fastest growth in the history of the power sector. 

The minister outlined key developments in the power sector, including the addition of 194 GW in capacity, with renewables contributing 107 GW. 

The construction of 193,000 circuit km of transmission lines has positioned India as part of the world's largest grid on a single frequency, enhancing power transfer capacity from 36 GW to 117 GW.

Singh also highlighted improvements in rural and urban power availability, with rural areas now enjoying approximately 21 hours of electricity daily and urban areas 23.8 hours. 

Notably, the minister stressed that uninterrupted power supply is now a right, and penalties are imposed on distribution companies for unwarranted load shedding.

Discussing India's rapid progress in renewable energy, Singh announced that the country has exceeded its commitment to having 40 percent capacity from non-fossil-fuel sources by 2030, currently standing at 187 GW of renewable capacity. 

The new target is set at an ambitious 65 percent by 2030. Addressing the financial aspects, Singh shared that the total investment in the past nine years is around 17 lakh crores, with an additional 17.5 lakh crores in capacity under construction.

Singh concluded by reaffirming India's commitment to reducing emissions, enhancing energy efficiency, and playing a leading role in the global energy transition. 

With plans to surpass 500 GW of renewable capacity by 2030 and significant advancements in green hydrogen manufacturing, India signals a robust commitment to a sustainable and resilient energy future.

(KNN Bureau)