What does ₹14,500 crore push for 92 GWh of energy storage mean for India's green energy transition?
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The government started a ₹14,500 crore support scheme to boost energy storage between FY27 and FY31.
- ✓This plan aims to build 92 GWh of storage capacity to save excess solar and wind power.
- ✓By storing green energy, the move helps stabilize the grid and could lower electricity bills for many consumers.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Livemint
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
What does the VGF scheme entail?
Under the scheme, financial support of ₹14,500 crore will be provided between FY27 and FY31. It aims to support 30GWh of battery energy storage systems (BESS), 60GWh of pumped storage projects (PSP) and 2GWh of emerging storage technologies. These projects, with an estimated investment requirement of ₹97,600 crore, will be allocated through a tariff-based competitive bidding process. Both public- and private-sector electricity distribution companies will be eligible for the fiscal support. To promote indigenous manufacturing, the government has mandated that BESS developers source at least 40% of their components from Indian manufacturers.
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