PUNE, India, 14 April 2008 — Putting behind the embarrassment of Enron debacle, the federal government has embarked on making the country’s power sector self-sufficient and is working toward adding extra capacity of 80,000 megawatts during the 11th Five Year Plan.
Federal Power Minister Sushil Kumar Shinde told reporters here on Saturday evening that the Enron chapter was closed as “we have successfully repaid all the foreign lenders after the Congress party-led United Progressive Alliance government came to power. After reviewing the entire episode, we have begun strengthening the country’s power generation capacity and to make the country self-sufficient in power by adding 80,000 megawatts in the 11th Five Year Plan,” Shinde said.
The minister said that the post-Enron scenario had severely dented the confidence of foreign investors in the country. No country was willing to lend money to India 15 years ago. But now the scenario had changed as the same countries including the United States and Britain were making a beeline to invest in the country, especially in the power sector.
“We have allowed 100 percent foreign direct investment in the sector. Two units of Dabhol power plant has started and the third would be started soon. The federal government is willing to give all required assistance to any state willing to enhance its power generation,” he said.
Shinde said that the government was working on a plan under which the four metros of the country would be freed from the bane of load shedding, or controlled power cut. “These cities attract the maximum foreign investments in the country. We don’t want to spoil our investment-friendly image outside due to load shedding,” he said.
Shinde denied media reports that he would soon take over as Chief Minister of Maharashtra from Vilasrao Deshmukh. Calling it as a rumor, he said: “The media is abuzz with reports that there is a likelihood of change in the chief minister’s seat and that I’m a likely candidate for the seat. These are all rumors, which have been circulating for the last eight months now. They do not mean anything. I said it yesterday in Kolhapur and repeat it here that there is no substance in these reports.”
