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Page added on November 11, 2014

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India Must Spend $250B by 2019 to Meet Its Power Needs

India Must Spend $250B by 2019 to Meet Its Power Needs thumbnail

If India is going to provide power to its more than 1 billion people over the next five years, it will need to invest about $250 billion during that time, according to Reuters.

The country’s power minister, Piyush Goyal, speaking at the World Economic Forum conference in New Delhi this week, noted that most of the money would need to come from the private sector.

The government is seeking $100 billion for renewables and $50 billion for transmission and distribution upgrades, according to Reuters. Earlier this year, the government committed $250 million to solar plants, solar-powered irrigation and power upgrades.

India is having difficulty meeting its current power demands, and it will be a stretch to supply reliable electricity to a power-hungry nation that is slated to double its energy consumption by 2019. Nearly 40 percent of India’s 1.2 billion residents do not have access to reliable electricity, a gap that President Modi has pledged to eliminate in the coming five years.

Much of that demand will ultimately be met by burning more coal. Goyal said India needs to increase the amount of coal it mines, while also cutting down on theft and investing in renewables. Coal already produces more than half of the country’s electricity.

Although coal will continue to reign in the country, Goyal claimed earlier this year that India will be a “renewables superpower,” according to The Guardian. He suggested India could easily add 10 gigawatts of solar annually. Last month, the government approved the nation’s first offshore wind farm.

There are many factors that could derail those solar ambitions, however. “The problem isn’t the level of investment; it’s the way that investment is being structured and directed,” said Adam James, global demand solar analyst with GTM Research. “The government has earmarked funds to develop several gigawatt-sized solar plants to meet its ambitious solar targets. That exposes India to a higher risk of not meeting its targets.”

James noted that projects of that size face considerable challenges in terms of project development, including securing land, offtakers, financing, grid connection and management. Even so, “the National Solar Mission has been a success,” said James, “and we are seeing a resurgence in state markets and unsubsidized growth in distributed generation.”

greentech media

5 Comments on "India Must Spend $250B by 2019 to Meet Its Power Needs"

  1. Davy on Tue, 11th Nov 2014 7:21 pm 

    India is a lost cause. Pack up and move on if you can if you call India home. The degree of over population in the space India inhabits is mind boggling. Its population growth rate is still high. Its aquifers are failing and rivers dying. Development and pollution are destroying the land, water, and air.

    When the SHTF India will be the hardest hit. It is a country already having food insecurity just wait until there are liquid fuel shortages and food shortages.

    Then there is the problem of India’s NUK armed enemy that is also coming apart at the seams. If any area could erupt in NUK war it is India and Pakistan. This is a truly dangerous are in the coming collapse.

  2. HARM on Wed, 12th Nov 2014 4:13 pm 

    @Davy, exactly. The idea that India could support a population of even 300 million –much less 1.2 billion– at a Western standard is absurd. They are so far into overshoot nothing could save them now, apart from a one-child per couple policy even more strict than China’s.

  3. HARM on Wed, 12th Nov 2014 4:15 pm 

    Queue up noobtube and Makati telling us India isn’t really overpopulated, it’s just those “western devils” that are holding them back. Clearly they can reach 10 billion and that still isn’t too much for their resource base.

  4. Makati1 on Thu, 13th Nov 2014 2:18 am 

    Harm, maybe India is in trouble, but no more than the Western countries. Indians can survive on two dollars per day. That will not even buy a Big Mac in the US.

    I would suggest that you don’t equate your lifestyle with those of other countries. Average per capita income here in the Ps is about $6,600/yr PPP.(2013 IMF)

    However, here you can live on that quite easily. My total living expenses are about $8,000USD/yr and I live an American lifestyle with A/C, minus a car. I can and will live on a lot less when we move out of the city next summer. On the farm, my expenses will drop to a few grand per year, or nothing, once the farm is established.

    Taxes? VAT of 12% only on most things. A low, graduated income tax if you make over a certain amount, and after 4 kids, zero taxes. How many taxes do YOU pay? Federal income, state income, local income, social security, FICA, excise, sales, property, capital gains, gasoline, and on and on, not even counting ‘fees’ and ‘licenses’.

    Low property taxes, but I rent. One bedroom condo, 27th floor, 8 years old, filtered, chlorinated swimming pools and equipped gym on the 8th floor commons, with desk attendant in the lobby and security guards at the entrances 24/7/365. Cost? $500 per month. My one bedroom apartment in a Philly suburb cost me $650 per month in 2007 and was 35+ years old, no pool, no nothing except noisy neighbors in a wood framed building.

    Quatar – $146,000/yr per capita
    Singapore -$ 79,000/yr
    US – $ 51,000/yr
    Russia – $ 25,000/yr
    China – $ 12,000/yr
    Philippines$ 7,000/yr
    India – $ 5,500/yr
    WORLD AVG. $ 14,300/yr

  5. Davy on Thu, 13th Nov 2014 6:45 am 

    Makster, you can argue numbers all day long but you cannot argue overshoot. Overshoot is what it is. Asia in general is dangerously into overshoot. India in particular is off the charts even by Asian standards.

    Overshoot has a negative value all its own. It represents the highest form of limits of growth. A population cannot exceed its carrying capacity very long. This is most effectively seen in a petri dish. Liquid fuels are becoming unstable and with it so will distribution and food growth. If populations start to experience food insecurity they quickly destabilize. This condition will start in Asia very soon.

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