Government Boosts Battery Storage with Viability Gap Funding
The government approved the development of 13.2 GWh battery energy storage systems across various states under the Viability Gap Funding scheme. The tendering process for 10.7 GWh concluded, with 5.7 GWh contracted. These systems store renewable energy for use during peak hours, reducing tariff costs and emissions.
- Country:
- India
The tendering process for a 10.7 GWh battery energy storage system (BESS) has reached its conclusion, as informed to Parliament on Thursday, with projects encompassing 5.7 GWh capacity successfully contracted.
The government has green-lit the development of a 13.2 GWh BESS across multiple states under the Viability Gap Funding (VGF) scheme, as per the Minister of State for Power Shripad Yesso Naik's written communication to the Lok Sabha.
To further incentivize BESS initiatives, the government introduced the VGF scheme aiming for about 43 GWh capacity, offering a strategic advantage in storing renewable power for deployment during peak hours, curbing peak tariffs and carbon emissions effectively.
(With inputs from agencies.)
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