Uttar Pradesh government targets investment of Rs 400 billion in energy sector

Uttar Pradesh government has set an investment target of Rs 400 billion in the energy sector to expand the energy sources in the state in light of the anticipated increase in electricity consumption over the next five years due to the establishment of industries.

The state’s peak electricity demand is expected to rise to 53,000 MW in 2028, from 26,000 MW in 2022. Electricity demand will increase at a rate of 16 per cent every year, which will be at the rate of 11 per cent in best-in-class and 8 per cent in business-as-usual. At the same time, the rate of electricity consumption is predicted to be 23 per cent in the commercial and industrial sectors and 14 per cent in the residential sector. In this case, the industrial consumption in the year 2028 will be 98,000 million units.