Reliance Industries Limitedhas won a bid to build a 10 gigawatt-hour battery unit, a move that will help billionaires mukesh ambani'The Group is further deepening its presence in the new energy sector.
The Mumbai-based company beat six other companies to become the sole developer by taking advantage of an incentive programme that rewards industrial production, according to a statement from the Ministry of Heavy Industries.
According to government estimates, as the grid expands and the transport system electrifies, battery demand in India could rise to 260 gigawatt-hours by 2030. This will be essential to balance the vagaries of power. renewable sources Such as wind and solar power, which will help the country reach 500 gigawatts of non-fossil fuel capacity by the end of the decade.
To support this shift, Prime Minister Narendra Modi’s government approved a Rs 181 billion ($2.2 billion) ‘generation-linked’ incentive scheme to increase the country’s battery storage capacity to 50 gigawatt-hours in 2021. A total of 30 gigawatt-hours of capacity was allocated to three firms in March 2022.
Ambani announced a $7.2 billion investment to enter the green energy sector in 2021, with plans to build four gigafactories making solar modules, hydrogen, fuel cells and battery clusters. A year later he increased the planned spending to $8.9 billion.
The Mumbai-based company beat six other companies to become the sole developer by taking advantage of an incentive programme that rewards industrial production, according to a statement from the Ministry of Heavy Industries.
According to government estimates, as the grid expands and the transport system electrifies, battery demand in India could rise to 260 gigawatt-hours by 2030. This will be essential to balance the vagaries of power. renewable sources Such as wind and solar power, which will help the country reach 500 gigawatts of non-fossil fuel capacity by the end of the decade.
To support this shift, Prime Minister Narendra Modi’s government approved a Rs 181 billion ($2.2 billion) ‘generation-linked’ incentive scheme to increase the country’s battery storage capacity to 50 gigawatt-hours in 2021. A total of 30 gigawatt-hours of capacity was allocated to three firms in March 2022.
Ambani announced a $7.2 billion investment to enter the green energy sector in 2021, with plans to build four gigafactories making solar modules, hydrogen, fuel cells and battery clusters. A year later he increased the planned spending to $8.9 billion.