India's Power Demand to Reach 708 GW by 2047: Power Minister

New Delhi, Oct 14 (PTI) India needs to increase its power generation capacity four-fold to 2,100 GW by 2047 against an anticipated demand of 708 GW, Union Power Minister Manohar Lal said on Monday.

As per official data, India's total power generation capacity stood at around 453 GW as of September 30, while the government's projection for peak power demand this year was 260 GW.

However, it could not be reached due to lower temperatures due to rains, and peak power demand remained around 250 GW.

"By 2047, we anticipate our power demand to reach 708 gigawatts. To meet this, we need to increase our capacity by four times, i.e. 2,100 gigawatts," Lal said, addressing 'Brainstorming Conclave on Indian Power Sector Scenario by 2047', organised by Central Electricity Authority (CEA) in partnership with industry body Ficci.

Ficci former president Subhrakant Panda said India's power sector presents vast opportunities in the transition to clean energy by 2070. The expanding renewable energy sector offers promising growth prospects.

Panda, who is also the Managing Director of Indian Metals & Ferro Alloys, said, "Enhancing local manufacturing and R&D investment will open new avenues for innovation. Extending ISTS waivers and strengthening the transmission and power evacuation system will further boost sector growth, creating numerous opportunities for investors and businesses".

The minister also launched the National Electricity Plan (Transmission), developed in consultation with various stakeholders.

It details the transmission infrastructure required to support 500 gigawatts of renewable energy capacity by 2030, rising to over 600 gigawatts by 2032.

With a planned addition of 1,90,000 circuit kilometres of transmission lines over the next decade, the plan presents an investment opportunity of over Rs 9 lakh crore in the transmission sector.

The plan incorporates innovative elements like the integration of 10 gigawatts of offshore wind farms, 47 gigawatts of battery energy storage systems, and 30 GW of pumped storage plants. It also addresses the power needs of green hydrogen and green ammonia manufacturing hubs and includes cross-border interconnections.