States will have to offer cheap power to attract investment: Piyush Goyal

Says states must find new ways of attracting investment as excise duty concessions to be ruled out

Piyush Goyal, Union minister for power, coal, renewable energy and mines, had inherited debt-laden power distribution companies and stalled projects when he took charge in May 2014. The scenario has changed dramatically since then. In an interview with Shreya Jai and Jyoti Mukul, Goyal talks about the government’s manufacturing push and other key issues. Edited excerpts:
 
In conventional power, are we heading for a down cycle as investment is not coming? How will demand increase be met?
 
We are currently at plant load factors where we can extend power generation by 50 per cent at our coal-based plants,