India’s ambitious drive for renewable energy has accelerated the need for energy storage, but there are many factors to success, writes Charith Konda of the Institute for Energy Economics and Financial Analysis (IEEFA).
The International Finance Corporation (IFC) will loan IR4.6 billion (US$55 million) to infrastructure investor IndiGrid for a standalone battery storage project in Gujarat, India.
Energy storage is essential to capture solar and wind generation, Karnataka’s energy minister said, at the opening of the ‘first fully automated’ battery storage factory in India.
India’s Ministry of Power has significantly increased the size and scope of its Viability Gap Funding (VGF) scheme to support battery storage projects.