India Energy Storage Week 10th Edition Set to Attract ₹2,000 Crore Investments in Energy Sector
Key Ideas
  • India Energy Storage Week (IESW) to bring in investments worth ₹2,000 crore in energy storage, electric vehicle, and green hydrogen sectors.
  • Participation of over 1,000 companies, including 200 international firms, with the launch of five major gigafactories for battery and storage solutions.
  • Companies like VFlowTech, Nash Energy, BatX Energies, Lohum, and Kushmanda Power announcing expansion plans and new technologies in energy storage and battery manufacturing.
  • Expectations from the union budget include GST rationalization, production-linked incentives, and safety standards framework to support the growth of the energy storage market in India.
The 10th edition of India Energy Storage Week (IESW) is anticipated to attract investments totaling ₹2,000 crore in the energy storage, electric vehicle, and green hydrogen sectors. The event, supported by the Ministry of Heavy Industries and organized by the India Energy Storage Association (IESA), is expected to see participation from more than 1,000 companies, including 200 international entities. Notably, the event will witness the launch of five major gigafactories for battery and storage solutions. Several companies are set to make significant moves during the event. VFlowTech, a Singapore-based company, is planning to establish its largest non-lithium long-duration energy storage manufacturing facility in Palwal, Haryana, with a focus on advanced VRFB systems. Nash Energy will unveil its domestically produced Li-Ion battery cell, aiming to scale up production to 1.5 GWh. Additionally, BatX Energies will launch a recycling and materials extraction facility, HUB-1, with advanced technology funded by the Ministry of Heavy Industries. Lohum will venture into 'Manganese-rich' Lithium-ion battery technology manufacturing with government support, while Kushmanda Power's Bharat Cell will disclose plans for a new 2 GWh BSES system manufacturing facility. The energy storage association is hopeful for GST rationalization in the upcoming union budget and is advocating for PLI schemes for battery component manufacturing and safety standards framework for the industry's growth. The expectations from the government include technology-neutral energy storage policies, a framework for testing procedures, and support for battery swapping services. The industry believes that addressing these aspects will not only boost the BSES market but also ensure its sustainable development in India.
ADVANCEH2

Our vision is to be the world's leading online platform for advancing the use of hydrogen as a critical piece needed to deliver net-zero initiatives and the promise of a clean H2 energy future.

© 2024 AdvanceH2, LLC. All rights reserved.