The Union Budget for 2018-19 is likely to have an overall positive impact on the power sector with the thrust towards expanding electricity accessthrough flagship schemes is seen boosting demand and a proposed mechanism for uptake of solar power likely to spur capacity creation.
As the government continues to lay emphasis for increased adoption of renewable energy, the power sector hopes for a much-needed thrust to domestic manufacture of equipments in this year’s Union Budget.
In an interview with ET Now, PV Ramesh , CMD, REC , says expecting a big upsurge in the demand push in the Budget through government’s instruments of stimulating growth like Make in India programme which is expected to generate much higher demand than witnessed in the last few years.
Uttar Pradesh is heading towards a big power crisis as the threat of closure of state-run coal-fired thermal power plants looms large following tough environmental norms for curbing carbon emission enforced by the Ministry of Environment and Forests.
In 2005, many new private sector players entered the power sector. A glance at the last decade or so shows that India’s power sector has changed significantly. The total installed capacity under Central, State and Private sectors has increased 147 per cent (from 132 GW to 326 GW), with about 638 per cent addition in Renewable Energy Source based capacity (from 8 GW to 57 GW) and 154 per cent addition in Thermal capacity (from 86 GW to 218 GW), primarily coming from addition in Thermal Coal-based capacities.
Rating agencies Moody’s Investors Service and ICRA today said they have a stable outlook for the Indian power sector over the next 12-18 months and expects a change in its energy mix towards renewables.
Technological advances like artificial intelligence, machine learning and big data are impacting the power sector as well, making it imperative for producers to re-skill resources, a senior official of Tata Power said.
Resolution For Future Roadmap To Reform Power Sector And Ensure 24×7 Power For All Adopted By Wide Consensus Among States
The Conference of Power and New & Renewable Energy Ministers of States and UTs concluded here late yesterday evening.
The power sector regulator in Uttar Pradesh, the Uttar Pradesh Electricity Regulatory Commission, has approved several steps that can not just strengthen the financial position of state utilities but also increase opportunities for companies in the transmission and distribution (T&D) EPC business.
Batting for bringing down electricity rates, Delhi’s Power Minister Satyendar Jain today said that lack of transparency in the sector was proving detrimental to the interests of consumers and development of the country.