Given its ambitious goal of 175 GW renewable power by 2022 and push for electric mobility, the country presents a potential investment opportunity of $50 billion in battery storage facilities.
The PV system was launched recently by The Energy and Resources Institute (TERI), in partnership with STEAG Energy Services. It can provide 24-hour electricity even without grid connection, and is expected to generate around 10,000 kWh annually.
As India plans to set up large lithium-ion battery plants, the Lithium Triangle countries in South America (comprising Chile, Argentina and Bolivia) have offered to meet India’s growing demand for lithium.
“We urge the government to take swift action in launching the National Energy Storage Mission in order to support the development of an R&D and manufacturing ecosystem for energy storage and electric vehicles,” said Rahul Walawalkar, president of the India Energy Storage Alliance.
For the purchase, the government of Tamil Nadu is seeking a loan from German state-owned development bank KfW, at an interest rate of 2%, according to reports.
Electric car sales in India declined by 40 per cent to a mere 1,200 units in the financial year 2018 over the financial year 2017, while electric two-wheeler sales rose 138 per cent to 54,800 units during the same period—according to research and consultancy group Wood Mackenzie.
Tecchren Batteries will establish a 200 MWh LiFePO4 battery manufacturing unit at Sri City in the state of Andhra Pradesh. Set up after an investment of Rs446 crore, the unit will produce approximately 700,000 li ion batteries per year.
The sixth international conference and exhibition on energy storage, electric vehicles and microgrids in India kicked off today in New Delhi. Innovation and Make in India were the central themes.
For India to achieve its 2030 dreams of fully electrifying its passenger vehicle market, and growing a leading manufacturing industry, its electric vehicle program must be accelerated. Meanwhile, if Intersolar India 2018 had to nominate the most-repeated word at the event, “storage” would win hands down.
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