India is on track to add approximately 10,000 megawatts (MW) of thermal power capacity and 21,000 MW of renewable energy capacity in the fiscal year 2023-24, Power Secretary Pankaj Agarwal said.
“We are taking concrete steps to move towards a total capacity of 900 GW by 2031-32,” Agarwal stated during his address at the National Conference of Power and New & Renewable Energy Ministers of States & UTs in the national capital.
On the transmission front, Agarwal noted the country’s transition to General Network Access from October 1, 2023, and the regular sanctioning of new schemes. He highlighted the government’s approval of a Rs. 21,000 crores project for evacuating 5,000 MW of renewable energy from Ladakh.
In terms of distribution sector reform, significant results have emerged following the implementation of Late Payment Surcharge Rules, with a reduction in overdue amounts from Rs. 1,39,000 crores to around Rs. 67,000 crores.
Agarwal also reported a decline in AT&C losses and detailed the progress under RDSS, with states awarding works totaling Rs. 81,000 crores against sanctions of Rs. 1,21,000 crores for loss reduction efforts.
Furthermore, the Secretary addressed the country’s strides in energy efficiency, including the initiation of the carbon market with a mandate-based approach and future plans for an offset mechanism. He also mentioned the launch of the STAR labelling scheme for solar PV cells and panels and a substantial program for demand aggregation for induction cookstoves and efficient fans.
On the renewable energy front, Agarwal informed that the Battery Energy Storage System (BESS) with a Viability Gap Funding (VGF) Scheme for 4,000 MWh capacity has been approved.
“The Renewable Purchase Obligations (RPOs) have been notified under the Energy Conservation Act. We have already simplified the captive power plant regime and are on our way to simplifying the open access regime to promote the integration of renewable energy into the system,” he concluded.
