Government is looking at an investment of around USD 50 billion (around Rs 3.3 lakh crore) in the transmission sector in the next five years, Power Minister Piyush Goyal said today.
"In the next six months at least 12-13-16 billion dollars worth of (transmission) lines are being bid out. Hopefully in the next five years we are looking at an investment of nearly 50 billion dollars in transmission," the minister said.
The government is also planning to aggressively bid out transmission lines rather than handing them over to Power Grid Corporation of India Ltd (PGCIL) on nomination basis, he said.
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"So, we are moving out of the system of nomination to nomination becoming an exception and competitive bidding becoming the norm," the minister said.
He also said the government is looking at the option of creating a national grid which is seamless, can absorb large amount of renewables and has the ability to make for any shortages.
"The government as a rule will prefer to go tariff-based bidding so that the lowest tariff and most competitive tariffs are discovered and only in very expectational cases will nominate companies for transmission," Goyal said.
He further said that contracts worth Rs 38,000 crore have been sanctioned through competitive bidding for creating green corridors which will strengthen grid system in renewable sector.
He further said that India is gradually moving away from the subsidy culture towards providing better facilities for working environment.
