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Booming India needs ‘energy’ drink |
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Written by Administrator
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Friday, 22 December 2006 |
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Earlier this week, Lanco Infratech and Tata Power won bids for the Sasan and Mundra ultra-mega power projects of 4,000 mw. Oil major ONGC had hit the headlines last weekend after a major gas find.
Just before that, it was Cairn India’s IPO to E&P plans in Rajasthan. The importance of energy in public policy, and marketplace is growing by the day.
Clearly, if India has to sustain a GDP growth of 8% plus and touch the magic figure of 10%, energy is a pre-requisite. But that’s a no-brainer. The tricky job is finding it. The ET Energy Survey takes a look at India’s energy scenario, and the role that multiple sources can play. The figures on power shortage, oil import and inefficient usage are well known. What deepens the crunch is a mounting demand from a booming economy. The issue of energy security has also captured common imagination. The task is not made easier by the fact that the government has separate ministries for coal, petroleum, power and non-conventional energy. Add to this, the department of atomic energy.
India will continue to depend on imported oil and to a lesser extent, on imported gas, coal and uranium for a long time. A sensible energy policy would be to harness indigenous energy sources. Indian companies will have snoop around for equity oil and equity coal. We will need to import power from our neighbours (we already have a deal with Bhutan). At the other end of the spectrum, there are environmental concerns, which underscore the need for cleaner fuels like natural gas and renewable energy. |
