GoodEnough Energy has unveiled plans to construct a gigafactory specialising in Battery Energy Storage Systems (BESS) in Jammu and Kashmir (J&K), with an initial capacity targeting 7 GWh. The company envisions scaling up the facility to 20 GWh by 2026. This initiative aims to enhance grid stability while fostering a comprehensive ecosystem for advanced BESS production, facilitating carbon emission reduction across various industries. With an investment exceeding Rs 4.5 billion, the project anticipates curbing over 5 million tonnes of CO2 emissions annually. Furthermore, the gigafactory is poised to generate job opportunities for more than 100 Small and Medium Enterprises (SMEs) as vendors and suppliers, thereby stimulating employment growth in the J&K region.
In March 2024, the results of Gujarat Urja Vikas Nigam Limited’s (GUVNL) auction for developing pilot projects of 250 MW/ 500 MWh standalone BESS projects, phase II, were announced. Gensol Engineering secured 70 MW/ 140 MWh, quoting Rs 448,996 per MW per month, while Indigrid 2 secured 180 MW/ 360 MWh, quoting Rs 449,996 per MW per month. These projects, scheduled for implementation in Gujarat, form part of a tariff-based global competitive bidding process initiated following a tender issued in November 2023.
Also, the Union Minister for Power and New and Renewable Energy recently laid out the framework for implementing a viability gap funding program to develop BESS with a capacity of 4,000 MWh. The minister highlighted the declining cost of BESS and the government’s commitment to promoting clean energy transition, highlighting the importance of efficient storage systems. He emphasized the potential of excess solar and wind energy generation, necessitating robust storage solutions for effectively harnessing and utilizing renewable energy. Acknowledging the government’s pivotal role in creating conducive investment frameworks, the minister stressed the imperative of ensuring energy availability during peak demand periods.
