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Updated July 30th, 2022 at 16:54 IST

Delhi: PM Modi lays foundation stone of green energy projects of NTPC worth Rs 5,200 crore

PM Modi stated India has witnessed path-breaking reforms in the power sector during the last 8 years to the extent that India is now a power surplus nation.

Reported by: Abhishek Raval
PM Modi
Image: Twitter/@narendramodi | Image:self
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Prime Minister Narendra Modi stated that India has witnessed path-breaking reforms in the power sector during the last eight years to the extent that the country is not only electricity surplus but is also a power-exporting nation. PM Modi on July 30 laid the foundation stone of multiple green energy projects of the National Thermal Power Corporation (NTPC) via video conferencing.

The Prime Minister also launched the revamped distribution sector scheme aimed at improving the financial health of power distribution companies. This is significant in the sense that the mounting debt of many state power distribution companies is a significant portion of the overall debt of the state.

Foundation stone of Green energy projects worth Rs 5,200 cr launched

PM Modi launched green energy projects worth Rs 5,200 crore of the NTPC via video conferencing, inaugurated the 100MW Ramagundam floating solar project in Telangana and the 92MW Kayamkulam floating solar project in Kerala. Additionally, he also laid the foundation stone of the 735MW Nokh solar project in Rajasthan, green hydrogen mobility project in Leh and Kawas green hydrogen blending with natural gas project in Gujarat.

Power ministry's flagship distribution sector scheme relaunched

In an important development for the state's power and financial sector development, PM Modi also launched the redesigned distribution sector scheme to improve the operational efficiencies and the financial sustainability of the power distribution companies. The scheme was relaunched with a total investment of Rs 3 lakh crore for a five year period from 2021-22 to 2025-26. The outlay is intended to enable DISCOMS to provide power to the end consumers with ease and reliability. 

According to a recent RBI report, the ailing health of the DISCOMS is a major contributor into the financial distress of many Indian states. "The power sector accounts for much of the financial burden of state governments in India, both in terms of subsidies and contingent liabilities," said the 'State Finances: A Risk Analysis' report.

'India is not only a power surplus nation but exports electricity too' 

On the occasion, PM Modi also launched the portal of the national solar rooftop scheme. It will be a one stop location to track end-to-end installation of rooftop solar plants at the consumer's location - from registration of applications to the release of subsidies to the residential consumer's bank accounts post the inspection and installation of the solar power plant.

Sharing his thoughts on the occasion, the Prime Minister said, ''India has gone through major transformation in the power sector in the past eight years.'' PM Modi further said, ''India today is not only surplus in terms of electricity generation but also exports power. The government is implementing all the schemes with full energy and speed.''

Image: Twitter/@narendramodi

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Published July 30th, 2022 at 16:54 IST

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