Cabinet approves Rs 14,500 crore for 92 GWh storage

The Union Cabinet approved Rs 14,500 crore in viability-gap funding for 92 GWh of new grid-scale energy storage capacity, with the five-year scheme covering fiscal years 2026-27 through 2030-31. The planned capacity is intended to support renewable-energy integration and strengthen electricity supply, but the projects have yet to be commissioned under the new programme. Information and Broadcasting Minister Ashwini Vaishnaw announced the decision after a Cabinet meeting chaired by Prime Minister Narendra Modi. The scheme’s capacity is divided among 60 GWh of pumped storage, 30 GWh of battery energy storage systems and 2 GWh of emerging storage technologies, according to Vaishnaw’s briefing. The government estimates that the projects will require total investment of Rs 97,600 crore. Funding support will be distributed through tariff-based competitive bidding. Public and private electricity distribution companies will be eligible for support for battery and pumped-storage projects, while public and private entities may undertake projects using alternative technologies, according to the scheme details. Battery-storage projects must meet a minimum domestic-content requirement of...