Rs 3,760 crore incentives for battery storage project likley to be provided by India
India is very likely to offer Rs 3,760 crore in incentives to companies setting up battery storage projects totaling 4,000 megawatt hours (MWh). The scheme 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 would also help to cut the cost of battery energy storage from the current 5.5-6.5 rupees per unit. Battery storage, used to back up intermittent renewable power supply to stabilize the grid, is an evolving technology, and there are very few large-scale operational projects in the world.
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