India is actively working towards a vision to have an interconnected power grid across the South Asian region covering as many countries as feasible, said Mr Ajay Tiwari, additional secretary, Ministry of Power at CII South Asia (BBIN) Power Summit on Friday. He estimated that going by the current pace and trajectory, India is likely to source about 62% of its energy requirements from non-fossil sources by 2030, exceeding the target it has set for itself for sourcing about 50% of energy requirements from non-fossils sources by that year. In 2022, India is already sourcing about 42% of its energy requirements from non-fossils sectors. India today has a very robust power grid running from North to South and East to West of the country. In future we would like to see the grid connected to neighbouring countries including Myanmar, Sri Lanka, and then expand that connection to Southeast Asian Countries, to emerge as a unified market Mr Tiwari said. That will mean sharing of countries’ resources, investments, keeping the goals of energy security and affordability in mind. We are already working on that vision at a government-to-government level, as well as at a technocratic level to strengthen the grid interconnections between India and Nepal as well as India and Bhutan, said Mr Tiwari. There is a proposal on the same lines from India to Bangladesh, which has received encouraging and positive feedback, he indicated. Under the One Sun, One Word, One Grid Initiative, the Central Public Sector Enterprise Power Grid Corporation of India has drawn up several plans, said Mr Tiwari. The vision is to finally have an interconnected grid with Gulf Countries, and via Gulf countries to Africa and up north with Europe pointed out Mr Tiwari, adding that plans are also being drawn to connect grids from India to Myanmar, Myanmar to Thailand, Thailand to Singapore.
I feel this will mean enormous upsurge in the capital expenditure as well as profile of the company.
Disclaimer: A small investment in the company.
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