India on Monday became a member of the Battery Energy Storage Systems (BESS) Consortium, an initiative led by The Global Leadership Council (GLC) of the Global Energy Alliance for People and Planet (GEAPP).
As part of this collaborative effort, India stands among the pioneering nations committed to securing 5 Gw of BESS commitments by the conclusion of 2024.
In September, the government endorsed viability gap funding for BESS development. The scheme aims to facilitate establishing 4,000 Mwh of BESS projects by 2030-31, providing financial assistance of up to 40 per cent of the capital cost through budgetary support in the form of VGF.
