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India's BESS Boom: Giants Build Storage Future
29 Sep
Summary
- India mandates minimum two-hour energy storage in solar tenders.
- Waaree, Adani Green, and ACME Solar lead BESS capacity growth.
- Data center expansion could drive significant solar-plus-BESS demand.
India is experiencing a significant surge in its Battery Energy Storage System (BESS) capacity, driven by new policy requirements mandating a minimum two-hour storage duration in utility-scale solar photovoltaic tenders. Crisil Ratings projects India could commission 45-50 GWh of BESS capacity by FY28, with cumulative requirements potentially reaching 411 GWh by FY32.
Leading the charge are three major renewable energy players: Waaree Energies, Adani Green Energy, and ACME Solar Holdings. Waaree Energies, the largest non-Chinese solar module manufacturer, is investing ₹10,000 crore in BESS infrastructure and focusing on FEOC-compliant exports to the US and Europe.
Adani Green Energy, India's largest pure-play renewable energy producer, has surpassed 20 GW of operational capacity and aims for 50 GW of renewable energy and 50 GWh of BESS by FY30, already accounting for approximately 50% of India's operational BESS capacity.
ACME Solar Holdings, another key Independent Power Producer, has a total portfolio of 8.1 GW with 20 GWh of planned BESS capacity, holding about 40% of India's cumulative commissioned BESS capacity and targeting 10+ GWh by FY27.
This expansion is supported by government policies like Viability Gap Funding and Production Linked Incentives. Emerging demand from data centers is also a significant factor, potentially creating 15-20 GW of additional demand for solar-plus-BESS installations.
