India Allocates ₹14,500 Crore for Solar Energy Storage Initiative
The Indian government has approved a ₹14,500 crore scheme to enhance solar energy storage, aiming to address peak-hour electricity demand. Union minister Pralhad Joshi announced that the initiative will support 140 GWh of energy storage capacity, including 60 GW of pumped-storage and 30 GWh of battery storage. This plan aligns with India's goal of achieving 500 GW of renewable energy capacity by 2030, with an additional target of 300 GW by 2035. The government is also focusing on building a domestic manufacturing ecosystem for solar components to reduce reliance on imports. The renewable energy sector has attracted nearly ₹7 lakh crore in investments over the past two years, with a target of ₹21 lakh crore by 2030.
Published 2 days ago • 05 Nov 2026, 09:40 AM IST