(MENAFN) India's Power Ministry said that the country needs to invest USD250 billion over the next five years to deal with the issue of energy shortages and provide power for all its 1.2 billion people, especially as the total energy consumed in India is expected double by 2019, Arab News reported.
India's government is currently targeting an investment of USD100 billion in renewable energy sources, including nuclear energy which India is considering, while USD50 billion will be invested on the transmission and distribution of energy to create a national grid where power can flow without any troubles.
India, which still suffers from regular outages of power due to fast growing demand as well as an old transmission system, said that these outages has negatively affected investments and forced many businesses to rely on costly generators for back up.
To deal with this problem, India needed to increase the amount of coal it mined for power generation, lessen the amount of electricity lost on transmission lines, and promote the use of renewable resources such as solar and wind.
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