India would need an investment of about $300 billion in the next 15 years to meet the growing demand in the energy sector and the private sector would have a crucial role to play, an energy expert said on Monday.
"We would require an investment of $300 billion in the energy sector, including power, oil and gas, in the next 15 years and for that private sector participation needs to be increased," N M Rothschild & Sons (India) managing director Muneesh Khanna said at an energy seminar organised by Federation of Indian Chamber of Commerce and Industry.
The state electricity boards are in shambles while the private sector is highly controlled and the regulatory framework unclear, he said adding, the private sector participation is significantly less than what it should be.
There is a need of adding 10,000 MW of power every year for the next 10 years, which would entail an investment of $100 billion and another $25 billion would be required for transmission.
On the oil and gas exploration front, the private sector share is only 17 per cent, he added.
Khanna said as against the world average of one per cent of the GDP, there is a need to invest 2-3 per cent of GDP in the energy sector in India, as it is a developing nation.