India's battery energy storage sector set for 91% growth to 302GWh by FY32E: Nuvama
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- ✓India’s battery energy storage sector will see 91% growth to reach 302GWh by FY32E, says Nuvama.
- ✓This expansion supports renewable energy and grid needs across the country.
- ✓The report said, "We estimate annual BESS additions to rise from 5.7GWh in FY26 to 56GWh by FY32E," helping boost domestic capacity growth.
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- MARKET
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- India Economy
India's Battery Energy Storage System (BESS) sector is projected to register a compound annual growth rate (CAGR) of 91 per cent between FY26 and FY32E, according to a recent report by Nuvama. The expansion reflects a critical infrastructure cycle designed to support renewable integration, grid balancing, and round-the-clock power requirements across the country.
The report noted that cumulative capacity will surge from 6.3GWh to 302GWh over the same period, with annual additions climbing from 5.7GWh in FY26 to 56GWh by FY32E. The report mentioned that Central Electricity Authority (CEA) estimates national BESS demand at 236GWh by FY32 and 1,840GWh by 2047.
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