Per capita energy consumption may triple in five-seven years: R.K. Singh
New Delhi: Union Minister of State (IC) for Power and New and Renewable EnergyR. K. Singh on Thursday highlighted the future of growing power consumption in India, with an expand in the per capita energy consumption at a breakneck speed.
Addressing the third Global Investors’ India Forum organised by ASSOCHAM here, Singh assured that the Government would extend all possible support and remove all impediments in the path of investments in the power sector.
“Electricity is the future of economic growth in India. This growth cannot take place without industry participation. I invite you to come and invest in India’s energy sector,” he said.
Further, Singh said the Ministry is in the final stages of codifying laws on a number of fronts, including the honouring of Power Purchase Agreements (PPAs) and penalties for delinquencies.
To keep pace with this rapid change in the Renewable Energy Sector, Singh opined that the industry needs to partner with the government in investing in green energy corridors, battery storage technology, grid improvement, electric vehicles programme and so on.
“Our time has come to lead the world in clean energy, and the industry must not be left behind in this endeavour”, he added.