As the share of variable RE increases, the need for battery storage solutions to balance its intermittent nature grows. In FY24, RE (including hydro) accounted for 20% of India's electricity generation. As per India's targeted renewable purchase obligation (RPO) trajectory, it needs to grow ~2x to reach ~43% by 2030. As most of the growth is expected to be dominated by variable RE, battery storage is well-positioned to play a key role in enhancing grid stability and maximising RE generation.
Will the potential 10% mandate and further increasing it to a mandate of 40%, along with VGF for BESS, be able to mobilise capital to fund 208 GWh of BESS by 2030, as projected by the Central Electricity Authority (CEA)?