Battery storage container project financing options in India 2026

Will India's first battery energy storage system be regulated in 2024?

New Delhi | 08 May 2024 — In a significant step forward for India’s energy transition, the Delhi Electricity Regulatory Commission (DERC) has granted regulatory approval of India’s first commercial standalone Battery Energy Storage System (BESS) project.

How much will India offer battery storage companies?

NEW DELHI: India will offer 37.6 billion rupees ($455.2 million) in incentives to companies setting up battery storage projects totaling 4,000 megawatt hours (MWh) under a scheme announced earlier this year, two government sources said.

What is India's battery storage scheme?

The scheme, details of which were not previously known, is intended to boost battery storage projects critical to India's ambitious 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 5.5-6.5 rupees per unit.

Will India increase its energy storage capacity by FY 2032?

An SBICAPS report expects India to increase its energy storage capacity 12-fold to 60 GW by FY 2032, outpacing the already impressive growth pencilled in for RE sources.

Which Indian Conglomerates are planning a large-scale battery plant?

A number of Indian conglomerates including Reliance Industries, Adani Power and JSW Energy have plans to set up large-scale battery plants. The proposal, announced by Finance Minister Nirmala Sitharaman in her budget speech on Feb. 1, will next be taken up for decision by the country's cabinet headed by Prime Minister Narendra Modi.

How much battery storage capacity does India need?

No timeline for its approval has yet been given. India has 37 MWh of battery storage capacity currently. According to estimates from its power sector planning body, it requires 236 gigawatt hours (GWh) of battery energy storage in addition to 27 GW of pump storage projects by 2031-32.