Ministry of Power completes National Electricity Plan, aims for 458 GW peak demand by 2032

Ministry of Power finalizes National Electricity Plan (NEP) for Central and State transmission systems, with a massive investment of Rs 9.15 lakh crore. This plan aims to meet the growing energy demand, targeting a peak demand of 458 gigawatts (GW) by 2032.

To support this goal, the transmission network capacity will be increased from 4.85 lakh circuit kilometers to 6.48 lakh circuit kilometers, and the transformation capacity will be raised from 1,251 GVA (Gigavolt-Ampere) to 2,342 GVA.

In addition to expanding infrastructure, the plan also focuses on green hydrogen initiatives and pump storage systems. These developments are expected to benefit major transmission companies, cable manufacturers, and transformer producers as this will give them clear visibility for future orders.

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An additional 9 transmission lines with a capacity of 33.25 GW will be added on top of the 33.5 GW, which is currently in use. The ability to transfer electricity between regions will increase from 119 GW to 168 GW.

A total transmission network of 335 GW is being planned for the future.

This finalization was an anticipated move in the power sector. The draft of the NEP had been under review, and in the past few days, the government confirmed the plan.

The government's significant investment signals a major push in capacity addition, which includes laying transmission lines and advancing clean energy technologies like green hydrogen.

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It's great news for Power Grid, a key player in transmission, as well as related industries such as cable manufacturers and transformer makers, who are set to benefit from the upcoming orders and projects.

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