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Rediff.com  » Business » Piyush Goyal promises energy security for next 50 years

Piyush Goyal promises energy security for next 50 years

May 28, 2015 10:38 IST

‘Coal India, through its various subsidiaries, would open 60 new mines soon. These will fetch Rs 2.85 lakh crore for 30 years to coal-bearing states’

Power failureWith record-breaking capacity addition of 22,566 Mw and power deficit at a low of 3.6 per cent, Piyush Goyal, minister of state for coal, power and renewable energy, said a stage has been set by 'Team India' for energy security for the next 50 years.

“Transparent coal auctions, corruption-free governance and de-bureaucratisation, among others, will help the prime minister's vision of 24X7 affordable power to all become a reality,” said Goyal.

Listing out the achievements of the three key energy ministries in the past one year of the Modi government, there has been highest-ever increase in transmission line capacity of 22,100 circuit kilometres and highest-ever increase in sub-station capacity of 66,554 Mw, he said.

He also said Coal India produced a record 32 million tonnes of coal and is looking at producing 100 million tonnes by 2020.

Goyal said five ultra-mega power plants of 20,000 Mw would be set up and the government is looking at a likely reduction in peak load shortages through revival of stranded gas-based power plants,

“We will raise renewable energy capacity by more than five times and invite Rs 1.09 lakh crore (Rs 1.09 trillion) investment in sub-transmission and distribution and Rs 1 lakh crore (Rs 1 trillion) of new transmission projects to be bid out in the current year,” said Goyal.

The minister also said Coal India, through its various subsidiaries, would open 60 new mines soon.

These will fetch Rs 2.85 lakh crore (Rs 2.85 trillion) for 30 years to coal-bearing states.

BS Reporter in New Delhi
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