India's Ambitious Energy Expansion Plans by 2047
Key Ideas
- India aims to increase power generation capacity to 2,100 GW by 2047 to meet the anticipated demand of 708 GW, focusing on renewable energy sources.
- The plan includes the development of green hydrogen hubs, battery storage systems, and offshore wind farms, presenting vast investment opportunities in the power sector.
- The National Electricity Plan (Transmission) details infrastructure requirements for supporting renewable energy capacity growth, with a focus on innovation and cross-border interconnections.
- Enhancing local manufacturing and R&D investment is emphasized to drive innovation and sector growth, creating opportunities for businesses and investors.
India's Union Power Minister, Manohar Lal, highlighted the need to increase the country's power generation capacity to 2,100 GW by 2047 to meet the projected demand of 708 GW. The current capacity stands at 453 GW, with plans for significant expansion. The Power Minister, along with industry experts, emphasized the importance of renewable energy, including green hydrogen, battery storage, and offshore wind farms in meeting future energy needs. The introduction of the National Electricity Plan (Transmission) outlines infrastructure requirements for supporting renewable energy growth and innovative elements such as battery energy storage systems and green hydrogen manufacturing hubs. The plan also aims to strengthen the transmission and power evacuation system, providing investment opportunities worth over Rs 9 lakh crore in the transmission sector. The focus on enhancing local manufacturing, R&D investments, and cross-border interconnections demonstrates India's commitment to clean energy transition and sector growth by 2047.
Topics
India
Renewable Energy
Innovation
Infrastructure Development
Economic Growth
Power Sector
Investment Opportunities
Clean Energy Transition
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