India's power demand likely to cross 300 GW in next 10 years
India's power demand is likely to cross 300 GW in the next ten years (12th and 13th five year plan periods) and needs to take up aggressive plans to meet the requirement, Chennai-based Shriram Ventures Managing Director S Srinivasan said here today.
Expressing views on power and pharmaceutical sectors at the Regional Cost Convention (RCC)-2012, organised by the Institute of Cost Accountants of India (ICAI) and Southern India Regional Council (SIRC) here, Mr Srinivasan said for meeting the power demand, measures would be required for capacity addition of around 80 GW over a five-year period.
The current installed capacity is around 210GW, with a peak load shortage of about 12 per cent and out of this, 67 per cent is from thermal , 19 per cent from hydro, 2 per cent from nuclear and 12 per cent from renewable energy, he said.
India's power sector will require investments of around Rs 24 lakh crore in the next five years or so to meet the power demand in future, he said. If the country grows at 8 per cent per annum for the next ten years, the demand for power is expected to be more than 300 GW projected in a most of the surveys, he added.
Rapid economic growth has increased the burden on India's infrastructure, the industralist said, adding that both power and healthcare costs directly affect the commonman and these sectors at a national level and significant capacity addition was required over the next five to ten years.