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China Firm Eyes India Battery Plant Amid Grid Upgrade

Summary

  • Envision Group plans a $34 million battery plant in India.
  • The plant aims for 5 gigawatt hours yearly capacity.
  • India's grid upgrade needs battery storage for renewables.
China Firm Eyes India Battery Plant Amid Grid Upgrade

Chinese company Envision Group is exploring the establishment of a battery manufacturing plant in India. The proposed facility, with an annual capacity of 5 gigawatt hours and an estimated investment of $34 million, aims to support India's drive to modernize its power grid for increased renewable energy integration.

The company plans to source battery cells from China while developing local capabilities for assembling racks and implementing software infrastructure. This localization strategy is seen as crucial for adding value within India, according to Suman Nag, Envision's global head for contracts.

India's renewable energy sector faces a significant hurdle in the form of insufficient energy storage systems, which are vital for stabilizing the grid. This deficiency often leads to the curtailment of excess solar power. While current battery storage capacity is less than one gigawatt, the market is poised for substantial growth, with projections estimating it to reach 46 gigawatts by 2032.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.

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