India announces $1.5-billion scheme to add 92 GWh energy storage capacity
- India has announced a $1.5-billion scheme to develop 92 gigawatt-hours (GWh) of energy storage capacity as part of its efforts to accelerate the shift towards renewable energy, the government said on Wednesday.
- The scheme, which will run from 2026-27 to 2030-31, will support the development of 60 GWh of pumped hydro storage, 30 GWh of battery storage and another 2 GWh using emerging storage technologies.
- The government expects the incentives to draw around $10 billion in investments over the next five years.
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- India has announced a $1.5-billion scheme to develop 92 gigawatt-hours (GWh) of energy storage capacity as part of its efforts to accelerate the shift towards renewable energy, the government said on Wednesday.
- The scheme, which will run from 2026-27 to 2030-31, will support the development of 60 GWh of pumped hydro storage, 30 GWh of battery storage and another 2 GWh using emerging storage technologies.
- The government expects the incentives to draw around $10 billion in investments over the next five years.
Sources: Economictimes