Power sector needs ₹42 lakh crore by 2032; Centre flags tariff reforms, transmission gaps at regional meet
New Delhi: India's peak power demand is expected to reach 270 GW by the end of 2025, up from 250 GW recorded in May and 242 GW so far this year, Union Power Minister Manohar Lal said at the Regional Conference for Eastern Region States and Union Territories held in Patna.
The Minister said the national grid had transformed into a unified network under the '
One Nation-One Grid
' vision, adding that coordinated planning between the Centre and states was key to ensuring uninterrupted power supply in the coming decade. The country's peak power demand is projected to rise to 446 GW by FY2034–35, he noted.
'The power sector needs an estimated investment of ₹42 lakh crore by 2032. This requires states to ensure resource adequacy, tie up generation capacity, and adopt balanced energy portfolios that include nuclear, renewable and conventional sources,' he said.
The meeting was attended by Minister of State for Power and Renewable Energy Shripad Yesso Naik, Odisha Deputy Chief Minister Kanak Vardhan Singh Deo, Bihar Energy Minister Bijendra Prasad Yadav, Jharkhand's Urban Development Minister Sudivya Kumar, and top officials from the Ministry of Power, along with CMDs of key central and state-owned power firms.
Manohar Lal said each state should plan for at least one nuclear power plant and expedite approvals to strengthen intra-state transmission. He said ₹1.5 lakh crore in 50-year interest-free loans had been allocated under the 2025–26 Union Budget for capital expenditures by states, including transmission upgrades.
'The share of renewables in India's total power generation has risen from 32% in 2014 to 49% in April 2025. States must promote renewable energy with storage systems and enforce Renewable Purchase Obligations,' the Minister said, adding that India targets 100 GW of nuclear energy capacity by 2047.
He urged states to resolve RoW (Right of Way) issues in intra-state transmission, explore diverse funding sources including listing of utilities and tapping multilateral institutions, and adopt
power islanding schemes
to safeguard against cyberattacks.
The Minister said smart metering was key to improving discom efficiency and reducing payment delays. 'States should ensure prepaid smart meters in all government buildings and colonies by August 2025, and for commercial and industrial users by November 2025,' he said.
Shripad Yesso Naik asked states to complete
PM-KUSUM projects
by December 2025 and expedite the PM Surya Ghar Muft Bijli Yojana.
Power Secretary Pankaj Agarwal urged states to finalise generation capacity tie-ups aligned with their resource adequacy plans through mechanisms such as TBCB and RTM. He also emphasised the need for grid security protocols and cyber resilience in distribution and transmission networks.
States were advised to engage with regulatory commissions to ensure timely tariff orders and bridge the gap between Average Cost of Supply (ACS) and Average Revenue Realisation (ARR) to improve financial viability of power utilities.
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