Union Power Minister Inaugurates ‘BID 2024’ Exhibition and Conference in Mumbai

Mumbai: Mumbai witnessed the inauguration of the three-day ‘BID 2024’ exhibition and conference organized by the Indian Electrical and Electronics Manufactures’ Association (IEEMA). Union Power and New and Renewable Energy Minister, Shri R.K. Singh, inaugurated the event titled ‘BuildELEC, IntelELECT & DistribuELEC-2024′ at the Bombay Exhibition Centre in Goregaon.

In his inaugural address, Union Minister Shri R.K. Singh highlighted the pivotal role of the electricity sector in propelling India as the fastest-growing large economy. Stressing the importance of electricity in industrialization, he acknowledged the surging demand for electricity and encouraged manufacturers in the electricity sector to seize the vast market opportunities.

The Power Minister noted the positive trends in power sector companies, with increased shares and cleared legacy dues. He emphasized the significant reduction in AT&C losses of distribution companies (discoms) from ~27% in 2014 to ~15% in 2023, with a further decrease expected to ~12%. Shri R.K. Singh outlined the move toward smart pre-paid meters for all customers and the commitment to ensuring power adequacy and 24×7 electricity supply.

Discussing the distribution companies’ responsibilities, the Minister underlined the evaluation of their performance by a committee, and defaulters facing penalties. He shared updates on the increase in rural and urban power availability, highlighting the growth from 12 hours to 20.6 hours in rural areas and 23.8 hours in urban areas.

Shri R.K. Singh also touched upon the growth of renewable energy manufacturing capacity, expressing confidence that the entire value chain of the renewable electricity sector would be made in India within a couple of years. He envisioned India as a leader in green hydrogen and encouraged the manufacturing of hydel power components in the country.

The Power Minister disclosed that 18,000 MW hydel power capacity is under construction, urging stakeholders to focus on hydel power storage and immersible pumps. He stressed the need for manufacturing hydel power components domestically.

During the event, the Minister presented certificates of appreciation to top 7 startups from the Electraverse Sparks Competition 2024 and toured the exhibition stalls. The President of IEEMA, Shri Hamza Arsiwala, and Deputy General of IEEMA, Ms Charu Mathur, were present on the occasion.

The Distribuelec segment of the exhibition showcased hi-tech electrical equipment used in power distribution, encompassing products, technologies, and services from 11KV to 33KV. The Buildelec segment focused on electrical systems for buildings, including homes, hospitals, hotels, and offices.

Concurrently, the 6th edition of the Intelect Conference on the theme “Transformative Journey – Reliable, Sustainable, and Safer Prosumer Ecosystem” will be held on January 17th and 18th, 2024. The conference will address energy systems integration, resilient prosumer infrastructure, and new dimensions to modern infrastructure, featuring panel discussions on advanced technologies for DISCOM modernization and CEO sessions on carbon footprint and NetZe.

This year’s host utility for the event is Maharashtra State Electricity Distribution Company Ltd (MSEDCL).