India requires Rs. 5 lakh crore investment in power sector: Kalasad

India requires Rs. 5 lakh crore investment in power sector: Kalasad

Mangalore Today News Network

Mangalore, Jul 31: Director (Administration and Human Resources) of Karnataka Power Transmission Corporation Ltd. Shivayogi C. Kalasad said that investors had offered to invest a sum of Rs. 70,000 crore in the power sector during the Global Investors Meet held in Bangalore last month. He was speaking at the inaugural ceremony of the 5th International Conference on Industrial and Information Systems held at the National Institute of Technology, Karnataka (NIT-K) in Suratkal on Friday. 

 

 

 

 

Mr. Kalasad also said that investors were willing to invest in power production from renewable energy sources from gas as well as in thermal plans. An estimate shows that India needs a total investment of Rs. 5 lakh crore in the power sector, he informed.

Former Principal Adviser (Power and Energy) of the Union Planning Commission Surya P. Sethi said that India should lower its demand for energy through high energy efficiency and conservation. He spoke about the necessity of inventing “disrupted technology,” which completely changes the way of producing, transmitting, distributing, and consuming energy, to achieve targets of energy production. He said that the use of solar energy was impractical owing to the high costs involved.

Stating that India had a nuclear power capacity of 4 GW in operation, he said that nuclear energy cannot meet the energy demands of the country by 2031 – 32. India’s nuclear power capacity was just 1 percent of the total nuclear capacity of 380 GW.