Latest Battery Energy Storage News in India May'21

6 June, 2021

Latest Battery Energy Storage News from India

  1. Production Linked Incentive scheme “National Programme on Advanced Chemistry Cell Battery Storage” – for achieving manufacturing capacity of 50 Giga Watt Hour (GWh) of ACC and 5 GWh of “Niche” ACC with an outlay of Rs.18,100 crore.
  2. The PLI scheme, National Programme on Advanced Chemistry Cell (ACC) Battery Storage is expected to attract direct investment of around Rs 45,000 crore in ACC battery storage manufacturing projects, the government said. The scheme is estimated to lead to net savings of Rs 2,00,000 crore to Rs.2,50,000 crore on account of oil import bill reduction during the period of this programme due to EV adoption as ACCs manufactured under the programme is expected to accelerate EV adoption, an official statement said.
  3. The Indian Cellular and Electronics Association (ICEA) has said that the PLI scheme  is likely to make India a major production hub for the battery Industry.
  4. Indian Oil Corporation Ltd (IOCL) has teamed up with Israeli start-up, Phinergy, for the development of aluminium-air (Al-air) batteries, and the partners are gearing up to soon establish their manufacturing facility.
  5. Ruchira Green Earth has announced that it is looking to double its manufacturing capacity of Lithium-ion batteries by setting up a Li-ion batteries plant worth Rs 200 Crores.
  6. The cost of standalone lithium-ion battery storage systems globally has plummeted in the last decade from USD 1,100/kWh in 2010 to US$137/kWh in 2020. Bloomberg NEF (BNEF) projects costs will decline a further 55 percent to USD 58/kWh by 2030.
  7. The Railway Energy Management Company Limited (REMCL), a joint venture of the Indian Railways and RITES, has invited bids to develop a 15 MW solar project with a 7 MW/14 MWh battery energy storage system (BESS) on railway land at Butibori in Nagpur.
  8. Okaya Power Group has commissioned 100 KWp hybrid solar plant in Baddi, Himachal Pradesh at its manufacturing unit which has 100 KWp with 306 number of 330Wp modules, 250 Kw Power Conditioning System (PCS) and 250 kwH Li ion battery energy storage with Battery Management System (BMS).
  9. Nexcharge estimates the current addressable market at around 8520 MWh, with the market set to grow to 26500 MWh by 2025. The firm is ramping its manufacturing facility to full capacity this year and will occupy the whole capacity in the next 3 years. Nexcharge is a Joint venture between Exide India and Leclanché, Switzerland, (Exide Leclanché Energy Private Limited)

24 February, 2024

Byju’s, once heralded as a flagship in India’s edtech sector, is grappling with severe financial and operational challenges, marked by a dramatic valuation drop. The company, which sought to stabilize its operations and finances, is now raising funds at a valuation significantly lower than its peak. This development comes amid efforts to address a substantial debt burden, with Byju’s proposing a repayment plan for its $1.2 billion loan. Investor confidence appears shaken, with some stakeholders pushing for drastic changes in leadership to navigate the crisis effectively. The turmoil reflects broader sectoral pressures and raises questions about the sustainability of high-growth trajectories in the edtech industry

10 February, 2024

Australia’s energy market is witnessing significant transitions and investments aimed at bolstering renewable energy infrastructure and securing gas supplies. Key developments include a $179 million investment by the Queensland Government for community battery projects, Santos’ $5.7 billion gas pipeline project following a legal battle win, and a $206 million energy savings package for NSW households. Additionally, the Australian government has secured new gas supply deals to support the east coast market, emphasizing the role of gas in transitioning to a renewable grid.

India 2024
9 February, 2024

The latest opinion polls, including the Mood of the Nation survey by India Today, predict a comfortable victory for Prime Minister Narendra Modi’s BJP and its allies in the National Democratic Alliance (NDA), with a projected win of 335 Lok Sabha seats in the 2024 general elections. This forecast suggests a slight decrease from the 2019 elections but still ensures a majority. The survey, involving interviews with over 149,000 respondents, reflects Modi’s enduring popularity based on his nationalist policies and economic reforms. Other polls echo these findings, although seat projections vary slightly. The opposition INDIA alliance is expected to secure a significant number of seats, yet not enough to challenge the NDA’s majority. These predictions highlight a political landscape that remains largely favorable to Modi and the BJP as the election approaches