Budget 2023-24 reaffirms government’s focus on domestic solar and battery manufacturing, green hydrogen
The budget signifies the government’s intent to drive domestic manufacturing of lithium battery cells as it waives customs duty on the import of machinery required for manufacturing these cells. It also continues with nil customs duty on critical inputs for solar manufacturing. The budget also aims to support large-scale battery storage projects through viability gap funding.
Retired coal sites to host multi-day iron-air batteries
Form Energy will install two 10 MW / 1,000 MWh batteries on the sites of Xcel Energy’s former coal-fired plants.
THDC, RRECL form JV to build 10 GW of renewable energy projects in Rajasthan
State-run hydropower producer THDC has formed a 74:26 joint venture with Rajasthan Renewable Energy Corp. Ltd to develop 10 GW of renewable energy projects in Rajasthan. The JV partners also plan floating solar and pumped hydro storage projects in the state.
US startup unveils saltwater flow battery for large-scale storage
US-based Salgenx has developed a scalable redox flow battery with two separate tanks of electrolytes, one of which is saltwater. Unlike other flow batteries, the new device is membrane-free, promising big gains at the levelized cost of storage level.
Storing renewables via regenerative braking in underground mines
Scientists in Austria have developed a long-term energy storage system that uses regenerative braking to adjust the descent speed of sand in mine shafts and generate electricity.
Rajasthan signs MoUs worth $14.85 billion for renewable energy, storage, and hydrogen projects
The State government has signed agreements for various giga-scale projects across renewable energy generation, solar manufacturing, pumped hydro storage, and green hydrogen.
Govt signs pact with Rajesh Exports for 5 GWh lithium-ion cell factory
The central government and the state government of Karnataka have signed an agreement with Bengaluru-headquartered Rajesh Exports to lend support and a tailormade incentive package for its 5 GWh lithium cell factory in Karnataka.
Beam Global awarded Indian patent for smart battery management system
The US-based company has been granted patents in India and China for its smart battery management system that monitors the thermal storage capacity of the phase-change material and automatically adjusts the power output of the battery packs and cells.
JSW Energy secures Letter of Award for 500 MW/1 GWh battery storage projects
The private-sector power producer has been awarded 500 MW/1 GWh of standalone, grid-connected battery energy storage projects by the Solar Energy Corp. of India Ltd. It will set up the projects on a build-own-operate-transfer basis.
Emerging investment opportunities in India’s renewable energy sector
Corporate decarbonization, value chain integration, wind-solar hybrid projects, battery energy storage, offshore wind, green hydrogen, and value-added offerings such as energy-as-a-service are key trends and technologies shaping up India’s renewable energy sector and offering ample scope for investments.
