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India Powers Up: ₹15,000 Crore Energy Storage Boost Planned
30 May
Summary
- India plans ₹15,000 crore scheme for 112 GWh energy storage.
- Scheme includes battery, pumped, and new technology storage systems.
- Initiative aims to enhance national energy security and grid stability.
India is preparing a substantial initiative to boost its energy storage capabilities, with a proposed viability gap funding (VGF) scheme targeting 112 gigawatt-hour projects. This plan includes an outlay of approximately ₹15,000 crore, aiming to cover 50 GWh of battery energy storage, 60 GWh of pumped storage, and 2 GWh of new storage technologies.
The scheme is designed to support India's growing reliance on renewable energy and manage increasing peak demand. With a national target of 500 GW of non-fossil fuel capacity by 2030, substantial storage is critical for integrating intermittent sources like solar and wind power.
This new VGF scheme follows previous initiatives that supported battery storage but did not include pumped hydro. The Central Electricity Authority projects a significant need for storage capacity, estimating 235 GWh by 2029-30 and 888 GWh by 2035-36, underscoring the urgency of this national energy security plan.
