India Aims to Quadruple Power Capacity to 2,100 GW by 2047 to Meet Growing Demand

Union Power Minister Manohar Lal on Monday said that for India to meet the forecasted demand of 708 GW, it would require increasing its power generation capacity four-fold to 2,100 GW by 2047. Presently, India's total power generation capacity stood at around 453 GW as of September 30. The peak power demand this year was forecasted at 260 GW but remained around 250 GW due to cooler weather from extended rains.

Speaking at the 'Brainstorming Conclave on Indian Power Sector Scenario by 2047', organized by the Central Electricity Authority in partnership with Ficci, the minister remarks that Lal underscored massive capacity expansion which had to be put in place in order to sustain power demands in India over the next two decades.

Subhrakant Panda, a former Ficci president and the MD of Indian Metals & Ferro Alloys, sought greater local manufacturing and R&D investment along with extension of the waiver under ISTS besides improvement in the power transmission system to attract more investors in the sector and boost economic growth as well. He cited the massive potential for growth in India's renewable energy sector, particularly with its goal to switch to a clean energy future by 2070.

He also unveiled the National Electricity Plan (Transmission) during the conference, which he said had involved exhaustive consultation with all the stakeholders. According to this plan, 500 GW of renewable energy capacity would be covered through infrastructures till 2030, which would increase above 600 GW by 2032.

The plan envisions addition capacity of nearly 190,000 circuit kilometers of transmission lines in the next decade, which opens up a massive investment opportunity of over Rs 9 lakh crore. It includes integration of 10 GW of offshore wind farms, 47 GW of battery energy storage, and 30 GW of pumped storage. Its emphasis is also on power consumption for upcoming green hydrogen and green ammonia production hubs and incorporates plans for cross-border power connections.

This audacious power roadmap is projected to further India's energy security, advance its renewable energy targets, and stimulate innovation and growth within the sector.

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