India to offer incentives for battery storage
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India to offer incentives for battery storage

India, to boost the country's green energy capacity, will offer $452 million in incentives to companies to set up battery storage projects. Such projects are critical to India's ambitious plan to expand its renewable energy capacity to 500 Gigawatts (GW) by 2030 from 178 GW at present. They...

India, to boost the country's green energy capacity, will offer $452 million in incentives to companies to set up battery storage projects. Such projects are critical to India's ambitious plan to expand its renewable energy capacity to 500 Gigawatts (GW) by 2030 from 178 GW at present. They enable storage of energy from solar, wind and other renewables. The programme will support storage capacity of 4,000 megawatt hours (MWh), to be developed by 2030-31. Many Indian companies have plans to set up large-scale battery plants. The government will provide viability gap funding - incentives to cover risks for developers of critical infrastructure projects. India currently has 37 MWh of battery storage capacity.

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