Power Secretary Forecasts India's Power Demand to Exceed 400 GW by 2031-32
03 Jul 2024
2 Min Read
CW Team
India's Power secretary, Pankaj Agarwal, disclosed that India's peak power demand is anticipated to exceed 400 gigawatts (GW) by the 2031-32 period, surpassing the earlier estimate of 384 GW. Agarwal made these projections while addressing attendees at the CII-Smart Metering Conference, noting a significant rise in power demand across various states over the past two years, suggesting that the initial forecast of 384 GW might have been conservative.
According to Agarwal, "The peak demand we recorded this year at 250 GW is expected to climb to 384 GW by 2031-32. Given current trends, it's likely this estimate will be surpassed."
To meet this escalating demand, India will need a total installed capacity of 900 GW by 2031-32. This requirement underscores the recent decline in power demand following the monsoon season, where demand fell to 206 GW from an anticipated peak of 260 GW by September this year.
These projections align with recent developments in India's power sector, emphasizing the necessity for expanded capacity. The government's target of achieving 500 GW of installed renewable energy capacity by 2030, with substantial contributions from solar and wind energy, underscores its commitment to promoting renewable energy and enhancing energy efficiency nationwide.
As of May, India's total installed power generation capacity stood at 444.7 GW, with a significant shift towards non-fossil fuel sources including 242.9 GW of cumulative thermal capacity, 193.6 GW of renewables, and 8.1 GW of nuclear capacity. This transition has been supported by substantial foreign direct investments amounting to US$ 18.17 billion in the power sector through December 2023, fostering growth and innovation within the industry.
India's Power secretary, Pankaj Agarwal, disclosed that India's peak power demand is anticipated to exceed 400 gigawatts (GW) by the 2031-32 period, surpassing the earlier estimate of 384 GW. Agarwal made these projections while addressing attendees at the CII-Smart Metering Conference, noting a significant rise in power demand across various states over the past two years, suggesting that the initial forecast of 384 GW might have been conservative.
According to Agarwal, The peak demand we recorded this year at 250 GW is expected to climb to 384 GW by 2031-32. Given current trends, it's likely this estimate will be surpassed.
To meet this escalating demand, India will need a total installed capacity of 900 GW by 2031-32. This requirement underscores the recent decline in power demand following the monsoon season, where demand fell to 206 GW from an anticipated peak of 260 GW by September this year.
These projections align with recent developments in India's power sector, emphasizing the necessity for expanded capacity. The government's target of achieving 500 GW of installed renewable energy capacity by 2030, with substantial contributions from solar and wind energy, underscores its commitment to promoting renewable energy and enhancing energy efficiency nationwide.
As of May, India's total installed power generation capacity stood at 444.7 GW, with a significant shift towards non-fossil fuel sources including 242.9 GW of cumulative thermal capacity, 193.6 GW of renewables, and 8.1 GW of nuclear capacity. This transition has been supported by substantial foreign direct investments amounting to US$ 18.17 billion in the power sector through December 2023, fostering growth and innovation within the industry.
Next Story
Dassault To Build Falcon Jets In India With Reliance
Reliance Infrastructure Ltd鈥檚 subsidiary, Reliance Aerostructure, has signed an agreement with France鈥檚 Dassault Aviation to manufacture Falcon 2000 business jets in India, with the first batch expected to roll out from its Nagpur facility by 2028. This marks the first time a Falcon aircraft will be entirely built outside France.The announcement sent Reliance Infrastructure shares surging, hitting the 5 per cent upper circuit on the BSE. Anil Ambani, Chairman of Reliance Group, hailed the agreement as a 鈥渟ymbol of India鈥檚 technological and manufacturing strength鈥�, adding that it aims..
Next Story
INDEA Lays Foundation for India鈥檚 First Auto Design School
The Indian School for Design of Automobiles (INDEA), the country鈥檚 first institute focused solely on automobile design and management, held its foundation stone ceremony at XLRI Delhi-NCR. The event was graced by Union Minister for Road Transport and Highways, Nitin Gadkari, who virtually unveiled the stone as Chief Guest.INDEA aims to become a premier talent hub, driving innovation in the Indian automotive sector. The school will focus on advanced design, mobility solutions, and sustainable practices, playing a vital role in shaping India鈥檚 transition from a cost-driven to a quality-led a..
Next Story
Karnataka Launches Global Innovation Hub at Airport City
The Government of Karnataka, in collaboration with Bengaluru Airport City Limited (BACL) and ANSR, has launched a global innovation hub named District I at Bengaluru Airport City's business park. The initiative aims to elevate India鈥檚 innovation ecosystem to a global scale by fostering collaboration among startups, academia, enterprises, and government bodies.District I will serve as a platform for deep-tech entrepreneurship, enterprise innovation, and commercialisation of academic research. It brings together Global Capability Centres (GCCs), IT firms, corporate labs, startups, venture capi..
