India will need to quadruple its power generation capacity to 2,100 GW by 2047 to meet an estimated demand of 708 GW, said Union Power Minister Manohar Lal on Monday. As of September 30, India’s power generation capacity stood at approximately 453 GW, while the peak demand forecast for this year was 260 GW. However, cooler temperatures due to rainfall kept peak demand at around 250 GW.
“By 2047, we expect our power demand to reach 708 gigawatts. To meet this, we must increase our generation capacity fourfold to 2,100 gigawatts,” Lal stated at the ‘Brainstorming Conclave on Indian Power Sector Scenario by 2047’ organized by the Central Electricity Authority (CEA) and Ficci.
Subhrakant Panda, former president of Ficci and Managing Director of Indian Metals & Ferro Alloys, highlighted the immense potential in India’s clean energy transition by 2070, with the renewable energy sector driving significant growth.
Panda noted, “Boosting local manufacturing and R&D investments will unlock new opportunities for innovation. Extending waivers on ISTS charges and improving transmission infrastructure will accelerate growth, offering many opportunities for businesses and investors.”
The minister also introduced the National Electricity Plan (Transmission), which outlines the infrastructure needed to support 500 GW of renewable energy by 2030, scaling to over 600 GW by 2032. This plan, which includes the addition of 1,90,000 circuit kilometers of transmission lines over the next decade, represents an investment of over Rs 9 lakh crore.
Key components include the integration of 10 GW of offshore wind, 47 GW of battery storage systems, and 30 GW of pumped storage plants, as well as provisions for green hydrogen and green ammonia manufacturing and cross-border energy interconnections.
