Bengaluru: Union Power Minister RK Singh said yesterday. India is among the top 5 countries in achieving transition from fossil fuels to non-fossil fuels. By 2030, we have set a target of achieving 40 percent of our production capacity using non-fossil fuels. However, we reached that target earlier in November 2020.
Now, Prime Minister Modi has set a lofty target of achieving 500 GW of power generation. This will account for 50 percent of our fuel demand potential by 2030.
The reforms brought in by amending the Electricity Act 2003 are not meant to privatize electricity distribution companies (DISCOMs). Instead the main objective is to increase competition and make affordable electricity available to all consumers by allowing more than one licensee in the sector. This is what he said.