BENGALURU (Reuters) – GoodEnough Energy said on Tuesday it will start operations at India’s first battery energy storage gigafactory in the northern region of Jammu and Kashmir by October.
The facility will help industry in cutting more than 5 million tons of carbon emissions in a year, GoodEnough said in a statement. India has set a 2070 goal for becoming net zero.
GoodEnough has already spent 1.5 billion rupees ($18.07 million) on the 7 gigawatts per hour (GWH) facility and will spend 3 billion rupees by 2027 to raise capacity to 20 GWH, said its founder Akash Kaushik.
Battery energy storage projects are critical to India’s ambitious plan to expand its renewable energy capacity to 500 gigawatts (GW) by 2030, from 178 GW at present.
India’s government is offering $452 million in incentives to companies under a programme to promote battery storage projects.
Such systems enable the storage of energy from solar, wind and other renewable sources so it can be released when needed.
($1 = 83.0051 Indian rupees)
(Reporting by Nidhi Verma and Manvi Pant; Editing by Alexander Smith)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.