Piyush Goyal expects $1 trillion investment in power sector

March 29, 2016 5:24 pm

Union Power Minister Piyush Goyal expects nearly $1 trillion investment in the power sector, which includes coal renewables, by 2030.
  “The efforts of government have ushered the power sector in a new level of growth altogether which provides for the sector a possible investment opportunity, between 2015 and 2020, a five year period, of about $ 250 billion. When I extrapolate that to a 15 year programme until 2030 the coal, power and renewable sector alone provides $1 trillion opportunity. In fact the ADB has calculated a $ 2.3 trillion opportunity by 2035,” said Piyush Goyal while speaking at seminar on power and coal during Make in India Week in Mumbai.
He further added, “when I talk about $1trillion investment by 2030, it’s a well defined area wise plan- what will go into transmission, what will opening of new mines, how will we bring technology into the coal sector, what will be our push towards energy efficiency, how are we going to bring in new coal generating plants which will be environmentally superior plants, what will we going to do about our gas based plants, how are we going to ensure the distribution sector works as a vibrant profitable business for the state discoms- all of these have been drawn out in great details. It provides great opportunity for the investors both in India and International.” The Minister reiterated that UDAY is not designed on the back of subsidies or government intervention; it is a bottom up programme, its being conceptualise by the joint endeavours of all stakeholders of the power sector. Through UDAY as a fulcrum of the next generation of growth in the power sector, Goyal said “We do see going forward, a paradigm shift, a transformational change in the investment climate in the power sector.”
Devendra Fadnavis pushes Make in Mumbai plansTo attract additional investment in the state and boost its ambitious ‘Make in Mumbai’ plans, Maharashtra Chief Minister Devendra Fadnavis announced a list of measures at the Make in India Week in Mumbai.
Mumbai’s dream of becoming an international financial centre may soon be a reality with the chief minister announcing the International Financial Services Centre at the Make in India grounds. The minister added that they have already had takers for the ambitious project.

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