Cabinet clears ₹14,500 cr funding scheme for battery energy storage systems

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This development is significant given India's ambitious target of 500 GW of renewable energy by 2030

The scheme will be implemented for five years till 2030-31

Press Trust of India New Delhi

1 min read

Last Updated :

Nov 04 2026 | 3:42 PM

IST

The Union Cabinet on Wednesday approved ₹14,500 crore in viability gap funding for 92 GWh of grid-scale energy storage systems between FY27 and FY31.

This development is significant given India's ambitious target of 500 GW of renewable energy by 2030.

The scheme is aimed at supporting the development of 92 GWh storage capacity across three technologies -- Battery Energy Storage System (30 GWh), Pumped Storage Projects (60 GWh) and Emerging Storage Technologies (2GW), Information and Broadcasting Minister Ashwini Vaishnaw said in a media briefing here.

The minister said the scheme will be implemented for five years till 2030-31.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Nov 04 2026 | 3:42 PM IST

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