Powergrid's Decisive Move: A Sustainable Investment Vision for India's Energy Transition
Key Ideas
- Powergrid Corporation of India Ltd plans a substantial capital expenditure of ₹3,06,600 crore by 2032, emphasizing strengthening power transmission infrastructure and integrating renewable energy sources.
- The company aspires to achieve ambitious sustainability goals, including sourcing 50% of electricity from renewables by 2025, becoming net water positive by 2030, and attaining zero waste to landfill status.
- Powergrid anticipates a surge in demand for advanced storage solutions such as Battery Energy Storage Systems (BESS) and pumped hydro storage to support India's transition towards a total non-fossil fuel power capacity of 600 GW by 2032.
- The firm foresees a significant increase in electricity demand driven by the expansion of green hydrogen production, estimating a need for an additional 71 GW of power by 2032.
Power Grid Corporation of India Ltd (Powergrid) has outlined a strategic plan to invest ₹3,06,600 crore by 2032 to align with India's energy transition goals. The investment will focus on enhancing power transmission infrastructure and incorporating renewable energy sources. A significant portion of the outlay, ₹2,99,100 crore, is dedicated to the core transmission business, with ₹7,500 crore earmarked for diversification into other sectors. The company also aims to achieve sustainability milestones, including sourcing 50% of electricity from renewables by 2025 and becoming net water positive by 2030.
Powergrid's environmental commitment extends to reducing emissions, with a notable 40.61% decrease in Scope 1 emissions and a 5.23% cut in Scope 2 emissions. The company envisions a considerable increase in Battery Energy Storage Systems (BESS) and pumped hydro storage capacities to meet the growing demand for clean energy infrastructure.
India's energy landscape is set to witness a shift towards non-fossil fuel power, with Powergrid forecasting a total capacity of 600 GW by 2032. The company anticipates a rise in electricity demand fueled by the expansion of green hydrogen production, necessitating an additional 71 GW of power support. Powergrid's proactive investment strategy positions it as a key player in driving sustainable and reliable power delivery nationwide.
Topics
India
Renewable Energy
Sustainability
Carbon Emissions
Investment
Energy Transition
Electricity Demand
Capital Expenditure
Power Infrastructure
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