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India’s Power Grid Ranks Among World’s Largest Unified Systems: Economic Survey 2023-24

Power Grid

India’s Power Grid, according to the Economic Survey 2023-24 presented by Union Minister of Finance and Corporate Affairs, Smt Nirmala Sitharaman, has emerged as one of the largest unified electricity grids globally. The survey highlights that India’s power transmission is consolidated into a single grid operating at a uniform frequency, capable of transferring 1,18,740 megawatts (MW) inter-regionally. As of March 31, 2024, the transmission infrastructure has expanded to include 4,85,544 circuit kilometers of transmission lines and a transformation capacity of 12,51,080 mega volt amp (MVA).

The Government of India has intensified efforts to bolster the sector in response to escalating electricity demand, which surged by 13 percent to 243 GW in FY24. Notably, the survey underscores substantial growth in electricity generation from renewable energy sources during FY23 and FY24.

Since the launch of the Saubhagya scheme in October 2017, the survey reports electrification of 2.86 crore households under various initiatives. Moreover, the implementation of the Electricity (late payment surcharge and related matters) Rules, 2022, has provided relief to distribution companies (DISCOMs), electricity consumers, and generating entities.

In the realm of renewable energy, India is committed under the United Nations Framework Convention on Climate Change to achieve approximately 50 percent of its cumulative electric power installed capacity from non-fossil fuel-based sources by 2030. The Ministry of New and Renewable Energy aims to achieve 500 GW of installed electricity capacity from non-fossil sources by 2030.

As of March 31, 2024, India has installed 190.57 GW of renewable energy capacity, comprising 43.12 percent of the total installed generation capacity. The survey notes that the clean energy sector in India attracted ₹8.5 lakh crore in investments between 2014 and 2023, with expectations of attracting ₹30.5 lakh crore between 2024 and 2030, generating substantial economic opportunities.

According to the National Electricity Plan of the Central Electricity Authority, the survey projects an increase in non-fossil fuel-based capacity from 203.4 GW (46 percent of total) in 2023-24 to 349 GW (57.3 percent) by 2026-27 and 500.6 GW (64.4 percent) by 2029-30.

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