India’s Battery Energy Storage Capacity Surges Four-Fold

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India’s battery energy storage capacity surged from 47.6 MWh in March 2023 to 219 MWh by March 2024, according to Mercom Capital Group. This growth is driven by policy measures like the deviation settlement mechanism, grid connectivity regulations, and ancillary services regulations to enhance renewable integration and grid stability. The Viability Gap Funding (VGF) program, with a budget of US$ 450.5 million (Rs. 37.6 billion), aims to install 4 GWh of battery energy storage systems (BESS). Additionally, energy storage obligations (ESO) and bidding guidelines for standalone and renewable-coupled energy storage projects are contributing to a robust pipeline of projects.

Note: The above-mentioned news was first published by us in our ProjectX India | 15th July 2024 edition.. Do you want to buy this issue or our latest issue? If yes! click here

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