Govt to offer Rs 3,760 cr as incentives to boost battery storage projects

Government to offer Rs 3,760 crore ($455.2 million) in incentives to companies that will be setting up battery storage projects.

Battery storage projects totaling 4,000 megawatt hours (MWh), were announced earlier this year, under a scheme, details of which are not known, a Reuters report said citing government sources.

The scheme aims to boost battery storage projects that are crucial to India’s plan to expand its renewable energy capacity to 500 gigawatts (GW) by 2030. It also aims to cut the cost of battery energy storage from the current Rs 5.5-6.5 per unit.

Battery storage which is used to back up intermittent renewable power supply to stabilise the grid is an evolving technology,