In a move to resolve the woes of power sector, Union Minister Jyotiraditya Scindia is planning for an estimated investment of about Rs 5 lakh crore to expand the country's electricity generation capacity to nearly 315 gigawatts by fiscal year 2016-17. As per Scindia, for thermal, an estimated investment of Rs 5 crore per megawatt would be required, for hydro power it is Rs 8.5 crore and Rs 11 crore for nuclear.
Asked about the estimated investment required for such an ambitious expansion target, Scindia said that investments are already on stream. Out of 88 gigawatts planned to be added in 12th Plan Period, 67 gigawatts would be thermal, hydro would be about 10 gigawatts and nuclear would be around 5-6 gigawatts, Scindia said.
The sector has been in rough weathers for many months, with the generation companies facing major problems like fuel shortage and regulatory hurdles. At the same time, the country is also facing significant power shortages, mainly due to problems in the distribution and last-mile segments.
Apart from this, Scindia is also looking for diversity in the country's electricity generation portfolio by tapping renewable sources like wind and solar, as also nuclear power in a larger way. The minister further said, the future target would be to exceed 400 gigawatts in the 13th Five-Year Plan period that would begin in 2017-18.
