As the government looks to set up 500 gigawatt (GW) of green capacity by 2030, a key challenge is to ensure its seamless access to the Grid. This is because RE by nature is intermittent, which undermines its optimal use unless stored efficiently.
Private companies such as ReNew, JSW Energy, Avaada Energy, Serentica Renewables, Gensol and public power companies like NTPC have already forayed into energy storage projects. They have lined up significant investments and set capacity targets in the space.
“Avaada is actively working on developing two large-scale pumped storage projects. The first project is a 1,560 megawatt (MW) facility in Uttar Pradesh, which is currently in the advanced stages of approval. The second project is planned for Maharashtra with a capacity of 1,500 MW. Both projects, totaling 3,060 MW, are expected to be operational before 2030,” said Chairman Vineet Mittal. The company plans to invest around Rs 16,500 crore in these projects. In addition to these two projects, Avaada has a pipeline of other pumped storage projects that are in various stages of approval for allocation.
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ReNew intends to deploy between 3,000 and 5,000 MW-hr of storage capacity by 2030, with an investment of over Rs 5,000 crores. As per sources, the company already has a firm pipeline of 2,000 MW-hrs. On the PSP side, the company is developing a pipeline of about 3 GW of projects in different parts of the country, which are in different stages of development.
Serentica Renewables plans to deploy 2,500 MWh by 2027 and at least 5,000 MWh by 2030.
The grid battery storage market is projected to grow from about 15 GWh this year to 60 GWh annually by 2030, as per industry sources. The Central Electricity Authority (CEA) estimates that 236 GWh of BESS shall be installed by 2030 to support integration of 500 GW of renewable energy by 2024. It also suggests that the segment would require investments worth Rs 1 lakh crore by 2030 to set up these BESS projects .
Anvi Power,
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