Peak demand for power has increased by 12.7% in 2023-24, says Ministry
NHPC Ltd, NEEPCO Ltd and SJVN Ltd have signed Memorandum of Agreements (MoAs) with Arunachal Pradesh Government on 12 Aug 2023 for development of 12 stalled Hydro Electric Projects with combined capacity of 11,523 MW in the State.
Signing of these MoAs and allotment of these projects to Hydro CPSUs would prove to be a significant step towards harnessing the immense hydro-electric potential of Arunachal Pradesh, the Power Ministry said in a year-end review of projects on 2 Jan 2024.
Development of these projects will contribute towards achieving the declared Nationally Determined Contribution (NDC) target of reaching 500 GW non-fossil energy capacity by 2030, it said.
“These projects are also expected to create huge employment opportunities in the region and boost the local economy as well as foster skill development and technical expertise in the region,” said the Ministry.
Overall, 29 hydro power projects with cumulative capacity 32,415 MW were indicated to the Hydro CPSEs (NHPC Ltd, NEEPCO Ltd, SJVN Ltd and THDC Ltd) under Ministry of Power.
During the current year 2023-24, peak demand has increased by 12.7% to 243,271 MW during the current year 2023-24 from 215,888 MW during same period previous year and all India peak Shortage has reduced to 1.4% (3,340 MW) with respect to 4.0% (8,657 MW) during the same period previous year.
Energy requirement has increased by 8.6% to 1,102,887 MU during the current year 2023-24 from 1,015,908 MU during same period previous year. Energy availability has also increased by 8.9% to 1,099,907 MU during the year from 1,010,203 MU during same period previous year.
Total Electricity generation including from Renewable Sources during 2023-24 is about 1176.130 BU as against 1092.520 BU during the same period last year showing a growth of 7.7%.
During the current year 2023-24, energy shortage at all India level has reduced to 0.3% (2,980 MU) with respect to 0.6% (5,705 MU) during the same period previous year. fiinews.com
