HomeEnergy efficiency ›Power Minister Inaugurates IEEMA's 'BID 2024' Event

Power Minister Inaugurates IEEMA's 'BID 2024' Event

The event, encompassing 'BuildELEC, IntelELECT, and DistribuELEC-2024,' kicked off at the Bombay Exhibition Centre in Goregaon, Mumbai.

January 17, 2024. By Abha Rustagi

Union Power and New and Renewable Energy Minister, R.K. Singh, inaugurated the three-day exhibition and conference organized by the Indian Electrical and Electronics Manufacturers’ Association (IEEMA) titled 'BID 2024.' 

The event, encompassing 'BuildELEC, IntelELECT, and DistribuELEC-2024,' kicked off at the Bombay Exhibition Centre in Goregaon, Mumbai.

In his address, Singh emphasized India's rapid economic growth, attributing it to the electricity sector's pivotal role. The minister highlighted the increasing demand for electricity and the significant market opportunities for manufacturers in the sector.

Speaking on the achievements in the power sector, Singh noted that all power sector companies have witnessed an increase in their shares, and legacy dues for power generation companies have been almost cleared. The Minister urged stakeholders to lead and grow, citing a 65 percent increase in the transmission network over the last nine years.

Minister Singh shared positive statistics, stating that Aggregate Technical and Commercial (AT&C) losses of distribution companies have reduced from ~27 percent in 2014 to ~15 percent in 2023, with a further expected decrease to ~12 percent. He highlighted the move towards smart pre-paid meters for all customers.

Discussing distribution companies, Singh emphasized the responsibility given to them by the present policy to ensure power adequacy and meet demand. The Minister encouraged more capacity installation to achieve a 24x7 electricity supply, mentioning increased power availability in rural and urban areas.

He also highlighted efforts to install more renewable energy manufacturing capacity, with the goal of making the entire value chain of the renewable electricity sector in India within a couple of years. He added that the country is set to become a leader in green hydrogen.

Addressing hydel power, Singh urged stakeholders to work towards hydel power storage and immersible pumps, emphasizing the importance of manufacturing hydel power components in India.

The Union Minister also presented certificates of appreciation to top startups from the Electraverse Sparks Competition 2024 and toured the exhibition stalls alongside IEEMA President Hamza Arsiwala and Deputy General Charu Mathur.

The 'BID 2024' event includes DistribuELEC, showcasing hi-tech electrical equipment in power distribution; BuildELEC, displaying electrical systems for buildings; and the 6th edition of the Intelect Conference focusing on a reliable, sustainable, and safer prosumer ecosystem. 

The Maharashtra State Electricity Distribution Company Ltd (MSEDCL) serves as the host utility for the event. IEEMA, as the apex association of manufacturers in the electrical and electronics sector in India, organized the event.
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