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Power: India`s Rs 315,000 Crore Jackpot!
Saturday, June 2, 2007
Power: India`s Rs 315000 crore jackpot!
And the winners are: Areva, Alstom, ABB, Bhel, Crompton, Emco, Siemens, Thermax, and the power generators Tata Electric, REL, CESC, Torrent Power, NTPC and NB Ventures
India must build hundreds of new power plants over the next five years to end the massive electricity shortages that threaten the country`s rapid economic growth, Prime Minister Manmohan Singh said Monday.
India`s economy has expanded more than 8.5 percent annually over the past four years, but a widening gap between the demand and supply of electricity threatens to derail that growth.
During peak hours, demand outstrips supply by as much as 25 percent in some parts of the country, causing frequent outages and forcing shutdowns at factories and businesses.
By 2012, India will need to generate at least 200,000 megawatts of power to eliminate any shortage, Singh said. Currently, the country has a total capacity of 130,000 megawatts.
Singh promised to reward states that accelerate work on new power generation facilities by waiving some federal loans.
"Electricity is vital for sustained economic growth," Singh told a conference of elected leaders. "If we expect our economy to keep growing at 9-10 percent annually, we need a commensurate growth in power supply."
Singh called the targets ambitious, but said the goals could be reached.
The power sector in the country is mostly run by India`s state governments, which have been slow in adding new capacities due to a lack of funds. Although the sector was opened to private capital more than a decade ago, few companies have invested in building new plants because of regulatory bottlenecks.
Apart from adding new plants, the state governments have to take measures to prevent high losses during transmission and distribution, which also include theft of electricity.
"No meaningful development of the power sector would be feasible with these levels of losses," Singh said. "We need to come heavily down on it as it is seriously affecting the financial viability of the (power) sector."
Most of India`s electricity is currently generated by coal-fired power plants, but the country also has some hydroelectric and nuclear generating capacity.
Singh did not say how authorities plan to deal with the environmental impact of the additional power plants
And the winners are: Areva, Alstom, ABB, Bhel, Crompton, Emco, Siemens, Thermax, and the power generators Tata Electric, REL, CESC, Torrent Power, NTPC and NB Ventures
India must build hundreds of new power plants over the next five years to end the massive electricity shortages that threaten the country`s rapid economic growth, Prime Minister Manmohan Singh said Monday.
India`s economy has expanded more than 8.5 percent annually over the past four years, but a widening gap between the demand and supply of electricity threatens to derail that growth.
During peak hours, demand outstrips supply by as much as 25 percent in some parts of the country, causing frequent outages and forcing shutdowns at factories and businesses.
By 2012, India will need to generate at least 200,000 megawatts of power to eliminate any shortage, Singh said. Currently, the country has a total capacity of 130,000 megawatts.
Singh promised to reward states that accelerate work on new power generation facilities by waiving some federal loans.
"Electricity is vital for sustained economic growth," Singh told a conference of elected leaders. "If we expect our economy to keep growing at 9-10 percent annually, we need a commensurate growth in power supply."
Singh called the targets ambitious, but said the goals could be reached.
The power sector in the country is mostly run by India`s state governments, which have been slow in adding new capacities due to a lack of funds. Although the sector was opened to private capital more than a decade ago, few companies have invested in building new plants because of regulatory bottlenecks.
Apart from adding new plants, the state governments have to take measures to prevent high losses during transmission and distribution, which also include theft of electricity.
"No meaningful development of the power sector would be feasible with these levels of losses," Singh said. "We need to come heavily down on it as it is seriously affecting the financial viability of the (power) sector."
Most of India`s electricity is currently generated by coal-fired power plants, but the country also has some hydroelectric and nuclear generating capacity.
Singh did not say how authorities plan to deal with the environmental impact of the additional power plants
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