India is searching for investors to help it to develop some 62 GW of new capacity for the period 2007-2012. The country needs an estimated $100 billion to meet its capacity requirements by the end of the latest five-year plan.
“This will include 44,000 MW thermal, 15,000 hydro and 3,000 MW nuclear,” Umesh Narayan Panjiar, secretary in the Power Ministry, reportedly said in a recent meeting. Panjar added: “Already, generation capacity of 39 GW entailing an investment of $43 billion is under execution.”
The news comes as three power projects are nearing completion in the southern state of Karnataka which are due to begin commercial operations in 2006-2007, adding 940 MW to the state capacity.