Indian Government Plans $11 Billion Funding Towards Boosting Power Generation

The government of India is planning for the launch of an $11-billion funding towards a large power generation program that has been planned for the period ranging from 2012 to 2017. During this time period, the Indian government is planning to expand the country’s overall power production capacity by approximately 100,000 MW.

As per estimates from the power ministry, such a massive addition to India’s power generation capacity would be requiring funding from the government to the extent of $110 billion, approximately. Previously, the Indian government had gone ahead with a similar funding to the extent of $1.5 billion towards adding 78,500 MW capacity of power for the period between 2007 and 2012. Towards maintaining the country’s sustained economic growth, a consistent and concentrated investment towards the power sector is needed.

The Indian government aims to connect numerous powerless villages along with the country’s national grid towards spurring economic upliftment as well as improving the standard of living of the country’s citizens. For this purpose, the country needs to expand its overall power infrastructure. Under the country’s National Solar Mission, power generation capacity to the extent of 1,000 MW has been estimated for installation by the year 2013 and is anticipated to go up till 20,000 MW by the year 2022.

Source: http://india.gov.in/

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