The Ministry for Power and New and Renewable Energy has finalised the framework for operationalising the scheme for viability gap funding for the development of battery energy storage systems (BESS) with a capacity of 4,000 MWh.
This initiative, designed to address the escalating power demand and facilitate the transition towards renewable energy, underscores the government’s commitment to promoting BESS installations. The BESS units are expected to play a crucial role in meeting peak electricity demand while also ensuring grid stability. Electricity generated by these systems will be distributed across various market segments through power exchanges. Notably, the charging of BESS will be done during periods of ample renewable energy generation from sources such as solar and wind.
