Union Minister proposes PLI initiative to boost grid-scale storage fund

R K Singh, the Union Minister for Power and New & Renewable Energy, has put forward a proposal to introduce a production-linked incentive (PLI) program aimed at enhancing capacity and promoting continued investments in grid-scale storage. Grid-scale energy storage systems are vital in ensuring a steady and uninterrupted supply of renewable energy to meet the growing demand for power. Up until now, only public sector undertakings such as NTPC and Solar Corporation of India have issued tenders for grid-scale battery storage projects. However, the implementation of the PLI initiative is expected to incentivise greater involvement from private entities in the development of large-scale projects in this sector.