Prime Minister Narendra Modi met key stakeholders of power and renewable energy sector on Thursday to push for the reforms planned in the sector and their implementation across states. The PM held a webinar with minister for power and new and renewable energy R K Singh, ministry officials, stakeholders and sectoral experts of the power sector, representatives of industries and associations, heads of power distribution companies, CEOs of state nodal agencies for renewable energy and consumer groups.
Addressing the issues in the power distribution sector, the PM said, a policy and regulatory framework for discoms is in the offing. “Consumer should be able to choose his supplier as per performance like any other retail commodity. Work is on to free distribution sector of entry barriers and licencing for distribution and supply. Efforts are underway for prepaid smart meter, feeder separation and system upgradation,” PM said.
The ministry of power has floated a draft Electricity Bill with the above mentioned reforms and policy changes.
PM Modi said the government is focused on reaching every village and every household as India is now a power surplus country. “Reforms like UDAY scheme with issue of Rs 2.32 trillion worth of bonds were undertaken to improve financial and operational efficiencies. For monetising the assets of the Powergrid, Infrastructure Investment Trust –InvIT was established which will soon be open for investors,” he said.
The Union Budget 2021 has laid down plans to monetising power transmission assets.
PM added that this year’s Budget has shown government’s commitment towards investment in infrastructure. “This is evident in Mission Hydrogen, domestic manufacturing of solar cells and massive capital infusion in Renewable Energy Sector,” he said.
Referring to the Production Linked Incentive (PLI) scheme in key manufacturing sectors, the Prime Minister said high efficiency Solar PV module will be a part of and Centre would invest Rs 4500 crore for that. Under the PLI Scheme, 10 Gw of integrated solar PV manufacturing plants will be operationalized with estimated investment of Rs 14,000 crore, he told the stakeholders.
“We want to see our companies to become global manufacturing champions, not just to fulfil local demands” said the Prime Minister.
The Government has indicated commitment of additional capital infusion worth Rs 1,000 crore in Solar Energy Corporation of India to promote investment in renewable energy sector. Similarly, Indian Renewable Energy Development Agency will get additional investment worth Rs 1,500 crore.
The PM also talked about the KUSUM scheme adding that farmers would become energy entrepreneurs. “The goal is to create 30 GW solar capacity through small plants in the farmers’ fields. Already, 4GW solar capacity is installed through rooftop solar projects, 2.5 GW will be added soon,” he said.
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