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HomeIndiaIndia to spend $452 million for battery energy storage

India to spend $452 million for battery energy storage

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NEW DELHI (Reuters) – India will spend 37.6 billion rupees ($452 million) on viability gap funding for battery energy storage in a bid to increase renewable energy capacity, the country’s information minister said on Wednesday.

The programme will support battery energy storage capacity of 4000 mega-watts hours, to be developed by 2030-31, Anurag Thakur said, adding that the government will offer incentives worth up to 40% of capital costs to companies setting up manufacturing units.

($1 = 83.1573 Indian rupees)

(Reporting by Shivam Patel in New Delhi; editing by Christina Fincher)

Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.

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