Specific recommendations from a prominent industry group for tax reforms and other changes to support energy storage were not included India’s Union Budget for 2021-2022, but certain aspects of the budget such as the promotion of domestic self-reliance have been welcomed by it.
The sovereign wealth fund of Qatar has agreed to invest in energy storage solutions provider Fluence in a transaction that values the technology company at more than a billion dollars.
India’s government has agreed on a financing package that includes INR45 billion (US$603 million) of investment over five years to support the domestic development of high-efficiency PV modules.
Two large-scale pumped hydroelectric energy storage projects under development in the US have been acquired by fund management company Copenhagen Infrastructure Partners (CIP).
Energy storage could solve problems of reliability for grid operators in India, such as the electricity blackout which struck Mumbai last month, a panel at the India Energy Storage Week conference heard today.
The Solar Energy Corporation of India (SECI) has invited bids for a 100MWac/200MWp solar project with a 50MW/150MWh battery energy storage system in the state of Chhattisgarh.
Greenko said that it will be helped along with plans to build multiple gigawatts of renewable energy plants alongside energy storage in India by an investment from Tokyo-headquartered ORIX Corporation.
Major PV inverter manufacturer Sungrow has reported a significant recovery in revenue and profitability in the second quarter of 2020, including a jump in revenues from its energy storage business segment.
