Energy Storage

Industry body India Hydrogen Alliance has submitted a plan to the government to build five large national green hydrogen corporations with a collective enterprise value of $5 billion by 2030. The plan shows public finance support, in the form of CAPEX and offtake incentives for National Green H2 Hubs, is crucial for creating financially viable green hydrogen infrastructure, especially in the initial 2024-30 period.

CEA’s Energy Storage System (ESS) Supplier Market Intelligence Program (SMIP) offers a biannual market report about the leading global lithium-ion battery cell manufacturers and energy storage system integrators.

ReNew Energy Global posted a net loss of $61 million for FY 2022-23, compared to $196 million for FY 2021-22.

Torrent Power has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to develop a cumulative 5.7 GW of pumped hydro storage capacity in Maharashtra.

US-based Salgenx says it has successfully integrated ultracapacitors with its saltwater redox flow batteries, resulting in significantly better power response and system performance.

The state-owned hydropower producer is exploring pumped storage development in Andhra Pradesh, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, and Odisha.

Noida-headquartered Lohum has introduced a 5 kWh energy storage system under its collaboration with MG Motor India to develop second-life solutions for used EV batteries.

Tata Group will set up a 20 GWh lithium-ion cell manufacturing plant in Gujarat with an estimated investment of INR 13,000 crore in the first phase.

The joint venture will build, own and operate a 250 MW/500 MWh battery energy storage system in Assam, enabling the effective integration of large-scale solar power capacity coming up in the state.

While more financiers are committing to limiting capital for fossil fuel, their oil and gas sector borrowers in the Asia Pacific region still adopt a wait-and-see approach to new energy.