Indian Economy News

Sterlite Power sees US$35 billion energy storage opportunity

  • IBEF
  • August 8, 2019

Sterlite Power Grid Ventures Ltd., which is one of the India’s biggest private transmission companies, witness a US$ 35 billion investment opportunity into grid-connected energy storage projects in the country over the next decade to support government renewables targets.

According to Chief Executive Officer, Pratik Agarwal, said that he believes that central and state governments will issue battery tenders totaling the several gigawatts of capacity by no later than the end of next year.

The comes as the transmission company is keen to enter this space. Sterlite presented bids for two projects in the US this February.

According to electricity power body Central Electricity Authority, India is forecast to have 34 gigawatts of battery storage capacity by 2030.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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