Business · Energy & Commodities · 17 hrs ago
India launches $1.5 billion plan to expand energy storage
India has launched a $1.5 billion energy storage scheme to help meet rising electricity demand while expanding renewable energy.
The plan covers 2026-27 to 2030-31 and is intended to add 92 gigawatt-hours of storage capacity.
It includes 60 gigawatt-hours of pumped hydro storage, 30 gigawatt-hours of batteries and two gigawatt-hours using emerging technologies.
The government says its incentives could support about $10 billion in investment over five years, and the additions would equal 170 percent of current grid-scale storage capacity.
Storage can help make renewable power more reliable, while India still depends heavily on coal and aims to reach net-zero emissions by 2070.
The scheme is meant to strengthen power reliability and energy security as demand grows in the country of more than 1.4 billion people.
Separately, the cabinet has approved $300 million to support four domestic plants that process lithium and nickel, which are used in batteries and other products.
India has launched a $1.5 billion scheme to develop 92 gigawatt-hours of energy storage capacity.
The plan supports 60 gigawatt-hours of pumped hydro storage, 30 gigawatt-hours of battery storage and two gigawatt-hours using emerging technologies.
The government said the incentives are expected to support about $10 billion in investment over five years.
The scheme runs from 2026-27 to 2030-31 and aims to help India integrate renewable energy and strengthen energy security.
- Who
- The Indian government launched the scheme. Prime Minister Narendra Modi said it would help improve power reliability and energy security.
- What
- A $1.5 billion scheme will support development of 92 gigawatt-hours of energy storage capacity.
- When
- The scheme runs from 2026-27 to 2030-31. The launch date is not stated.
- Where
- India.
- Why
- To accelerate the shift towards renewable energy, integrate more renewable power and strengthen energy security.
This story does not have two clearly opposing sides.
India's cabinet approved a $300 million scheme to support four domestic processing plants for lithium and nickel.
The energy storage scheme is scheduled to run during this period.
- Scheme funding
- $1.5 billion
- Planned storage capacity
- 92 gigawatt-hours
- Pumped hydro storage
- 60 gigawatt-hours
- Battery storage
- 30 gigawatt-hours
- Emerging technologies
- 2 gigawatt-hours
- Expected investment supported
- About $10 billion over five years
What people are saying
more reliable power, greater renewable energy integration, and stronger energy security.
At present, India remains substantially dependent on imports.
Domestic processing capacity is therefore imperative.