Cabinet Approves ₹14,500 Crore Scheme For Battery Energy Storage Systems

Business Standard · business

The Union Cabinet has approved a ₹14,500 crore viability gap funding scheme for 92 GWh of grid-scale energy storage systems, to be implemented between FY27 and FY31. This initiative supports India's goal of achieving 500 GW of renewable energy by 2030. The scheme will foster 30 GWh of Battery Energy Storage Systems, 60 GWh of Pumped Storage Projects, and 2 GW of Emerging Storage Technologies. The funding aims to bolster the nation's renewable energy infrastructure and grid stability over the next five years.