India's Requirement Of Battery Storage Estimated To Hit 120 GWh By 2030
Capital MarketUnion Minister of Power and MNRE R.K Singh chaired an interministerial meeting on PLI scheme on Advanced Chemistry Cell Battery Storage and Strategy to acquire lithium mines abroad, here yesterday evening. The Minister took an update on status of Bids on PLI Scheme by Ministry of heavy industries and directed to expedite the PLI bid processes. He further discussed the availability of Lithium reserves in the world. He reviewed the probable locations where India can explore Lithium mines. The process and mechanism acquiring mines varies in different countries and we need to prepare accordingly, he added. The Minister brought to the attention that India is a huge country in terms of energy requirements and hence its requirement for battery storage is also huge, and is estimated as 120 GWh by 2030, to support our 500 GW renewable capacity addition. He further discussed future prospects and long term planning in view of our RE Targets.
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