The IREDA CMD emphasized the critical role that energy storage will play in achieving the
National Green Hydrogen Mission’s ambitious target of over 5 million metric tons per annum (MTPA) Hydrogen production by 2030. He highlighted several key priorities for advancing storage technologies.The CMD stressed the need to enhance research and development efforts to reduce cost and improve performance of energy storage solutions. He spoke of the necessity of implementing policies that strengthen the supply chain network,
for achieving the successful deployment of energy storage technologies. Providing competitive and tailored financial solutions will encourage investment in energy storage projects, he added.India has taken active steps in this direction,
which include the formulation of a storage requirement roadmap up to 2047, technology-agnostic storage tenders, and supportive government interventions for battery manufacturing and pumped storage hydropower projects. The Central Electricity Authority of India projects a storage requirement of nearly 400 gigawatt-hours (GWh) by 2030-32, with an estimated investment exceeding Rs. 3.5 lakh crores.
IREDA has been at the forefront of renewable energy financing through the provision of innovative products for emerging technologies at competitive rates and is committed to support the deployment of energy storage technologies in India.
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