09-06-2023 03:37 PM | Source: Reuters
India to spend $452 million for battery energy storage
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India will spend 37.6 billion rupees ($452 million) on viability gap funding for battery energy storage in a bid to increase renewable energy capacity, the country's information minister said on Wednesday.
The programme will support battery energy storage capacity of 4000 mega-watts hours, to be developed by 2030-31, Anurag Thakur said, adding that the government will offer incentives worth up to 40% of capital costs to companies setting up manufacturing units.
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