Power Minister inaugurates IEEMA exhibition and conference ‘BID -2024’ in Mumbai

Power Minister inaugurates IEEMA exhibition and conference ‘BID -2024’ in Mumbai

Mumbai: A three-day exhibition and conference organized by Indian Electrical and Electronics Manufactures’ Association (IEEMA), titled 'BID 2024', which stands for 'BuildELEC, IntelELECT & DistribuELEC-2024' was inaugurated by Union Power and New and Renewable Energy Minister Shri R.K. Singh at Bombay Exhibition Centre at Goregaon, Mumbai today. 

Speaking on the occasion, Union Minister Shri R.K. Singh stated, India is the fastest growing large economy, and that has been possible because of the electricity sector.

Without electricity there is no industrialization and the demand for electricity is growing in the country. Hence, there is a huge market for manufacturers in electricity sector, stated Shri R.K. Singh. 

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He further stated that the shares of all power sector companies have gone up. In our country, there are no bills pending for gencos (power generation companies), he added. “All the legacy dues have also been almost cleared off”, he said. Stating these, the Power Minister urged to the stakeholders of electricity sector to lead and grow. Further, there has been 65% increase in the transmission network in the last nine years. 

Shri R.K. Singh said that AT&C losses of discoms have gone down from ~27% in 2014 to ~15% in 2023; will further go down to ~12%. We are also going into the direction of smart pre-paid meters for all customers, he added. Speaking about distribution companies, Union Power Minister said, the present policy has given every distribution licensee a responsibility to tie up different installed capacities to have power adequacy so that they can meet the demand of the areas under them. Their performance related to it is to be assessed by a committee headed by the Chairperson of Central Electricity Authority and defaulters are liable to be penalized. “No distribution licensee can shed their responsibility because of high price at electricity exchange and will be penalized for failing to provide power because of shortage of supply in licensed area”. The Union Power Minister also said that more capacity is being installed at a great pace so that more Power Producers and Suppliers (PPS) come forward and general public may get 24x7 electricity supply. The Union Minister said that the availability of power in rural areas has increased from 12 hours in 2015 to 20.6 hours and in the urban areas it has increased up to 23.8 hours. 

Shri R.K. Singh also said that more renewable energy manufacturing capacity is being installed. He also said, within a couple of years, the entire value chain of renewable electricity sector, starting from poly-silicon to photovoltaic modules will be made in India.  The country will also be a leader in green hydrogen, further added the Union Power and Renewable Energy Minister.

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Speaking about hydel power, Union Power Minster said, 18000 MW hydel power capacity is presently under construction. He urged the stakeholders to work for hydel power storage and immersible pumps as there is a capacity of 40,000 MW Pumped Storage Projects (PSPs) at various stages of clearance. He also urged that hydel power components should be manufactured in India and not imported. 


The Union Power Minister also informed that the peak demand has gone up from 136 MW in 2014 to 243 MW in 2023, thereby registering about 80% growth, while installed power generation capacity has gone up by almost 70%, from 249 GW to 426 GW in the same timeline. 

The Union Minister for Power and New and Renewable Energy also presented certificates of appreciation to top 7 Startups from Electraverse Sparks Competition 2024. Shri R.K. Singh also went around the exhibition stalls. The President of IEEMA Shri Hamza Arsiwala and Deputy General of IEEMA Ms Charu Mathur were present on the occasion.

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