The strategic initiative which would contribute to the country’s journey towards a greener future was highlighted by IREDA chairman and managing director (CMD) Pradip Kumar Das at a panel discussion on ‘Future Growth Opportunities for Long Duration
The IREDA CMD emphasised the critical role that energy storage will play in achieving the
The CMD emphasised the need to enhance research and development efforts to reduce cost and improve the performance of energy storage solutions. It was necessary to implement policies that strengthen the supply chain network, and providing competitive and tailored financial solutions will encourage investment in energy storage projects, he added.
India has taken active steps in this direction, which include the formulation of a storage requirement roadmap up to 2047, technology-agnostic storage tenders, and supportive government interventions for battery manufacturing and pumped storage hydropower projects. The Central Electricity Authority of India projects a storage requirement of nearly 400 gigawatt-hours (GWh) by 2030-32, with an estimated investment exceeding Rs 3.5 lakh crore.