Indian Economy News

Total installed thermal power capacity is expected to be 283 GW and non-fossil-fuel-based capacity to be 500 GW by 2031-32: The Union Minister for Power and New & Renewable Energy, Mr. R.K Singh

The Central Electricity Authority (CEA) has conducted generation planning studies to meet the electricity demand by 2031-32, envisioning a requirement of 283 GW of coal and lignite-based installed capacity, with plans to add a minimum of 80 GW of coal-based capacity. The estimated capital cost for this thermal capacity addition is projected to be over US$ 80.4 billion (Rs. 6,67,200 crore) by 2031-32. To reduce reliance on coal-based power, the government aims to boost non-fossil fuel-based installed electricity generation capacity to over 500,000 MW by 2031-32, implementing various measures like promoting Renewable Energy through schemes, standards, and bidding guidelines.

By 2031-32, the total installed thermal power capacity is anticipated to reach 283 GW, while the government plans to enhance non-fossil-fuel-based capacity to over 500 GW. To achieve this goal, initiatives like FDI up to 100%, waiving ISTS charges for solar and wind power, and promoting Renewable Energy through various schemes and guidelines have been implemented. These measures aim to diversify the energy mix, promote green energy sources, and ensure sustainable growth in the power sector to meet future demands efficiently.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.