Union Minister for Power and New & Renewable Energy, Shri R. K. Singh, asserted that India’s identity as a developing nation is a thing of the past, as the country now competes globally in both capability and infrastructure. Addressing a press conference in New Delhi on “Transformative and Future-Ready Developments in the Infrastructure Sector,” Shri Singh highlighted the astounding transformation in India’s infrastructure. He emphasized that a future-ready infrastructure is pivotal for achieving developed nation status and underscored India’s rapid modernization efforts.
Shri R. K. Singh elaborated on the significant achievements in the power and renewable energy sectors, showcasing India’s progress:
Power Sector Highlights:
- An impressive 190,285 MW of electricity generation capacity has been added since 2014, transforming India from a power-deficit to a power-surplus nation.
- The current installed electricity generation capacity of 421,901 MW nearly doubles the peak demand and allows for power exports to neighboring countries.
- 182,801 circuit kilometers of transmission lines have been established, forming a unified grid operating at a single frequency.
- India’s transmission lines incorporate cutting-edge technologies like 800 KV HVDC, spanning challenging terrains.
Renewable Energy Achievements:
- India achieved its National Determined Contribution (NDC) target of 40% installed electricity capacity from non-fossil sources in 2021, nine years ahead of schedule.
- A remarkable 64.3 GW of solar capacity was added from 2014 to 2023, a 23-fold increase from 2014.
- Approximately 9 million solar lighting systems were distributed during this period, while 530,000 solar pumps were provided to farmers, significantly boosting clean energy adoption.
- The share of renewable energy (excluding large hydro) in the electricity mix surged from 6.4% in 2013-14 to 12.5% in 2022-23.
- Notably, solar tariffs plummeted from over Rs. 6/unit in 2014 to less than Rs. 2/unit in 2020-21.
Furthermore, indigenous solar module and cell manufacturing capacities substantially grew, along with wind turbine manufacturing capacities. Foreign Direct Investment (FDI) in the renewable energy sector surged by 3.7 times, and loan disbursements by IREDA for renewable projects increased six-fold over the past nine years.
Shri R. K. Singh’s comprehensive overview underscores India’s rapid strides towards a robust and sustainable energy landscape, positioning the nation on the global forefront of infrastructure development and renewable energy deployment.