India’s power minister Sushil Kumar Shinde is to invite US investors to participate in projects in his country’s power sector, which is estimated to require $230bn investment under the country’s 12th Five-Year Plan (2012–17).
New capacity now under construction in India totals 80 GW, he will tell the US-India Economic Opportunities and Synergies Summit in Chicago on 20 September.
The private sector’s contribution to India’s electricity output has grown from 11.6 per cent in 2006 to 30 per cent today and is due to hit 60 per cent in the 12th plan.
Investment in the power sector is being driven by a surge in per-capita electricity demand, said R. V. Kanoria, senior vice-president of the Federation of Indian Chambers of Commerce and Industry (FICCI).
“Per-capita consumption of electricity has grown from 600 kWh to 785 kWh in a span of five years,” he said.
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