Is India’s energy storage market headed for oversupply?
A recent report by SBICAPS projects that India will add 30 GW of energy storage capacity (battery storage, pumped storage, etc) through standalone and firm and dispatchable renewable energy (FDRE) projects by June 2027. This would bring the country’s total storage capacity to 36 GW—far exceeding the projected demand of around 24 GW, and possibly leading to oversupply.
Hydrogen: The steel industry’s next big step toward decarbonization
Given that global steel demand is projected to grow by 32% by 2050, largely driven by infrastructure expansion and industrial development, the need to decouple steel production from carbon emissions is both urgent and complex. Here is where hydrogen, particularly green hydrogen, emerges as a powerful catalyst for change.
SECI auction yields record-low green ammonia price of INR 55.75 per kg
The Solar Energy Corp. of India (SECI) has achieved a record-low price of INR 55.75 per kg (around $641 per tonne) for green ammonia in its first-ever auction under the National Green Hydrogen Mission’s SIGHT Scheme (Mode 2A).
Avaada Group to invest INR 5,000 crore in 1 GW of renewable energy projects in Bihar
Avaada Group has signed a memorandum of understanding with the government of Bihar to invest INR 5,000 crore for developing 1 GW of solar and battery energy storage projects in Bihar.
VFlowTech, IIT Delhi join hands to extract vanadium from refinery waste
The initiative aims to establish India’s first circular vanadium ecosystem, converting refinery waste into battery-grade vanadium pentoxide (V₂O₅)—a critical material used in next-generation long-duration batteries that support grid stability and renewable energy deployment.
India could cut electricity costs to $50/MWh by 2050 with a fully wind and solar-based power system, says ETC report
India could achieve clean power system at a cost (including generation, balancing, and grid infrastructure) of around $50/MWh by 2050—significantly below current fossil fuel-driven wholesale prices—by shifting to a fully wind and solar-based electricity system requiring primarily day-night balancing.
Maharashtra launches 2 GW/4 GWh battery storage tender
Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) has launched a tender to select developers for setting up 2 GW/4 GWh of battery energy storage systems (BESS) across multiple MSEDCL-provided locations, connected to the intra-state transmission system.
Waaree Energies records INR 4,597.18 crore revenue in Q1 FY 2026
Waaree Energies Ltd has reached an order book of 25 GW—comprising 58.7% overseas and 41.3% domestic orders—valued at approximately INR 49,000 crore.
India successfully tests first hydrogen-powered train coach
Indian Railways has successfully tested the nation’s first hydrogen-powered coach at the Integral Coach Factory (ICF) in Chennai.
Acme Solar posts INR 131 crore profit for Q1 FY2026
Acme Solar has reported a net profit of INR 131 crore for the first quarter of FY2025-26, a stellar increase of 9,319% YoY.
