Exuding confidence about foreign and domestic investors contributing in a big way to the Indian growth story, Union Minister Piyush Goyal underscored the country's power sector is set for $250 billion investment across different segments. The minister highlighted that investments were expected across diverse areas of the energy sector, including in renewables, transmission and distribution segments.
Further, giving break-up of the investment, Goyal unveiled that while renewables were set to get $100 billion, the transmission and distribution segment would get $50 billion, each. He added that another $60-70 billion were expected to be invested in power generation, including for restarting stalled projects and for new ones, while $5-6 billion were earmarked for energy efficiency projects. Besides, $20-25 billion investments has also been set aside for associated infrastructure required in replacement of old and out-dated equipments, among others.
Meanwhile, raising money for funding these investments is the last thing that the government is worried about as it has gauged a sense of excitement among the investors about the ambitious target that Prime Minister Narendra Modi has set, which is to ensure 24×7 power for all households as also for the industry and the farmers.