IFC has committed USD 55 million to IndiGrid for building India's largest standalone battery energy storage system in Gujarat. This project will support Gujarat's clean energy goals by enhancing grid stability and ensuring reliable power during peak demand. The long-term financing of USD 55 million (about Rs 460 crore) will be through a subscription to listed non-convertible debentures, with USD 38.5 million from IFC's own account and USD 16.5 million in concessional support from the Clean Technology Fund, one of the multi-donor trust funds under the World Bank-hosted Climate Investment Funds framework. IFC Regional Director for South Asia Imad N Fakhoury said, "Expanding access to reliable, affordable electricity is central to development and IFC's mission in emerging markets. Battery energy storage is critical for diversifying India's energy mix and ensuring clean power is available when demand is highest." The increasing integration of solar and wind energy introduces new challenges for grid stability, peak load management, and dispatch reliability. Utility-scale battery storage is emerging as a critical solution to address grid stability challenges, including peak load management and dispatch reliability, while enabling greater integration of solar and wind energy. (ICE NEW DELHI)

Fonte notizia: Economic Times