Greenko Group, one of India’s largest renewables operators, and Indian state-owned Ayana Renewable Power have signed an agreement to use large-scale energy storage facilities to provide local industrial customers with one gigawatt (GW) of around-the-clock renewable power supply, as reported by Economic Times on February 15. This is the first time that two independent power producers (IPP) in India team up for the decarbonization goals of industrial users. Specifically, Greenko will offer 1.5 gigawatt-hours (GWh) of storage capacity from a renewables-plus-storage project in Andra Pradesh at the initial stage, as part of the total of six GWh it will bring to the partnership with Ayana Renewable.
India is facilitating the development of energy storage systems to support its ambitious renewable energy target, as clean energies are saddled with intermittency and unsteadiness. The country aims for 500 GW of renewable energy installation by 2030, a major increase from the existing 151.4 GW at the end of 2021. Such enormous capacity requires around 29 GW or 108 GWh of energy storage connected to the grid by 2030, according to India’s Central Electricity Authority. To achieve this target, the country has carried out a USD2.4bn incentive program last year to promote investments in the battery industry. India hopes to leverage this scheme to build up an energy storage capacity of 50 GWh over five years, less than one-half of the anticipated installation in 2030.