![]() ![]() India has 37 MWh of battery storage capacity currently. No timeline for its approval has yet been given. 1, will next be taken up for decision by the country's cabinet headed by Prime Minister Narendra Modi. The proposal, announced by Finance Minister Nirmala Sitharaman in her budget speech on Feb. He said battery storage systems are a crucial part of enabling the energy transition.Ī number of Indian conglomerates including Reliance Industries (RELI.NS), Adani Power (ADAN.NS) and JSW Energy (JSWE.NS) have plans to set up large-scale battery plants. "A battery energy storage scheme is a step in this direction," he added. India's power secretary Alok Kumar said the country "is committed to energy transition while meeting the demands of energy security of its population". The disbursement of the contracts will be made in five tranches until 2030-31, one of the sources said, requesting anonymity since the proposal is not yet public and needs federal cabinet approval.Ĭontracts will be awarded through a competitive process, with the company with lowest bid selected, they said. It also expects private investments worth 56 billion rupees through the scheme. The government will provide so-called viability gap funding - incentives to cover risks of developers of critical infrastructure projects that are or may turn out to be economically unviable - in the form of grants for three years, the sources said. The scheme intends to develop large-scale battery energy storage systems to bring down costs through competitive bidding. It also aims to cut the cost of battery energy storage from the current 5.5-6.5 rupees per unit.īattery storage, used to back up intermittent renewable power supply to stabilise the grid, is an evolving technology, and there are very few large-scale operational projects in the world. ![]() The scheme, details of which were not previously known, 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. Send us feedback about these examples.NEW DELHI, June 6 (Reuters) - India will offer 37.6 billion rupees ($455.2 million) in incentives to companies setting up battery storage projects totaling 4,000 megawatt hours (MWh) under a scheme announced earlier this year, two government sources said. ![]() These examples are programmatically compiled from various online sources to illustrate current usage of the word 'unveiled.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. 2023 The unveiled daughter is highly likely the child who retired NBA star Dennis Rodman saw during his 2013 trip to Pyongyang. Winston Cho, The Hollywood Reporter, 3 Feb. 2023 Apple in 2021 unveiled privacy changes that require apps to obtain user permission to track their activity across other apps and websites. 2023 Matheson was today unveiled as the new director of the BFI London Film Festival. 2022 Signature Bank’s failure - newly unveiled in the Sunday announcement - occurred quickly. 2023 Wednesday’s unveiled schedule proves it. ![]() Rachel Siegel, Washington Post, 25 Mar. Rick Scott (R-Fla.) and Elizabeth Warren (D-Mass.) - two lawmakers who rarely agree on much - unveiled legislation that would replace the Fed’s watchdog with an inspector general appointed by the president and confirmed by the Senate. Recent Examples on the Web Videos of unveiled women resisting the morality police have flooded social media. ![]()
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