Union Power Minister Manohar Lal announced the finalization of the National Electricity Plan (NEP) 2023-2032 at a press conference in New Delhi on September 23, 2024. The plan outlines a roadmap for the development of both central and state transmission systems to meet India’s projected peak power demand of 458 GW by 2032. The total project cost is estimated at ₹9.15 lakh crore.
Key highlights of the NEP 2032 include:
- Transmission network expansion: From 4.85 lakh circuit kilometers (ckm) in 2024 to 6.48 lakh ckm by 2032.
- Transformation capacity: Increase from 1,251 GVA to 2,342 GVA by 2032.
- Interregional transfer capacity: Growth from 119 GW to 168 GW by 2032.
- Addition of nine HVDC transmission systems, boosting total capacity to 33.25 GW.
The plan also focuses on expanding renewable energy capacity, aiming to evacuate 335 GW of power through the interstate transmission system (ISTS) by 2030, with a significant portion from renewable sources.
Minister Lal also highlighted India’s push for pumped storage projects (PSP), with plans to add 39 GW of capacity by 2030 to enhance grid stability.
In thermal power, the ministry aims to meet peak demand with the construction of 28.4 GW of thermal capacity, with further projects under development.
