India Steps Up: Viability Gap Funding Boosts Battery Storage Development

The Indian government announced a second tranche of viability gap funding to develop standalone Battery Energy Storage Systems. This initiative aligns with the goal of achieving 30 GWh energy storage, attracting a Rs 33,000 crore investment. It aims to boost energy security and encourage international collaboration.

The Indian government's announcement of a second tranche of viability gap funding to boost Battery Energy Storage Systems has been lauded by the India Energy Storage Alliance (IESA). The funding aims to achieve the government's target of 30 GWh distributed across 15 states, with support from NTPC.

This ambitious scheme seeks to attract investments worth Rs 33,000 crore and meet the nation's energy storage demands by 2028. The IESA hopes that the India Energy Storage Week 2025 will play a crucial role by hosting global industry leaders, stakeholders, and investors.

A financial outlay of Rs 5,400 crore will support 30 GWh of BESS capacity development. The initiative not only enhances energy security but also optimizes existing infrastructure. With demand projected to grow to 236 GWh by 2032, timely implementation is essential, industry experts say.

(With inputs from agencies.)