On Wednesday Information and Brodcating Minister Anurag Thakur said that The Union Cabinet approved a Rs 3,760 crore viability gap funding for setting up battery energy storage system in the country.
The entire Rs 3,760 crore viability gap funding will be borne by the central government, the minister said while briefing media about the Cabinet decisions.
The money will be made available in five instalments between 2030 and 2031, helping to create 4,000 MW hours of storage.
The viability gap funding, Thakur said, will lead to an investment of Rs 9,500 crore.
India plans to meet its 50 per cent of energy requirements through renewable energy and non-fossil energy sources.
