India's Strategic Push for Enhanced Energy Storage
India is ramping up efforts to boost energy storage with initiatives like funding for battery systems and a national framework for energy storage development. The government aims to achieve 60 GW of storage capacity by 2032 to ensure grid stability and sustainable energy transition.
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In a bid to transform India's renewable energy landscape, the government is intensifying efforts to bolster energy storage capacities nationwide. Addressing the 6th International Energy Conference in New Delhi, Minister of State for Power and New and Renewable Energy, Shripad Yesso Naik, highlighted the nation's growing focus on storage batteries.
The government has allocated Rs. 5,400 crore in Viability Gap Funding for new Battery Energy Storage Systems (BESS), along with waivers on Inter-State Transmission System charges. These moves are part of a strategic push to support India's ambitious renewable energy goals, underscored by the establishment of Energy Storage Obligations to guarantee future capacity.
A National Framework is also being developed to guide the evolution of energy storage systems up to 2032, ensuring grid stability and continuous power supply. With aims to achieve 60 gigawatts of storage capacity by fiscal year 2032, this initiative positions India as a future leader in battery manufacturing and storage solutions, with efforts like Production-Linked Incentive schemes for battery production already underway.
(With inputs from agencies.)
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