“A consumer should be able to choose his/her supplier as per performance like any other retail commodity. Work is on to free distribution sector of entry barriers and licensing for distribution and supply. Efforts are underway for prepaid smart meter, feeder separation, and system upgradation,” the PM said.
The ministry of power has floated a draft Electricity Bill with these reforms and policy changes. The PM addressed a webinar organised to push for the reforms planned. The webinar was attended by Power and New and Renewable Energy Minister R K Singh, ministry officials, and other stakeholders.
Modi said the government was focused on reaching every village and every household as India was now a power surplus country. “Reforms like UDAY scheme with the issue of Rs 2.32 trillion worth of bonds were undertaken to improve financial and operational efficiencies. For monetising the assets of the Power Grid, an infrastructure investment trust (InvIT) was established, which will be open for investors soon,” he said.
The Union Budget 2021 has laid down plans to monetising power transmission assets.
The PM said this year’s Budget had shown the government’s commitment towards investment in infrastructure. “This is evident in the National Hydrogen Mission, domestic manufacturing of solar cells, and massive capital infusion in the renewable energy sector,” he said.
Referring to the Production-Linked Incentive (PLI) in key manufacturing sectors, Modi said high efficiency solar PV module would be a part of the scheme and the Centre would invest Rs 4,500 crore for that. Under the PLI scheme, 10 Gw of integrated solar PV manufacturing plants will be operationalised with an estimated investment of Rs 14,000 crore, he said.
“We want to see our companies become global manufacturing champions, not just to fulfil local demands” said the PM.
The government has indicated additional capital infusion of Rs 1,000 crore in the Solar Energy Corporation of India to promote investment in renewable energy sector. Similarly, the Indian Renewable Energy Development Agency will get Rs 1,500 crore additional investment.
The PM said the KUSUM scheme would help farmers become energy entrepreneurs.
“The goal is to create 30 Gw solar capacity through small plants in the farmers’ fields. Already, 4 Gw solar capacity is installed through rooftop solar projects, 2.5 Gw will be added soon,” he said.