The Union Cabinet has approved funds worth Rs 3760 crore for setting up Battery Energy Storage System (BESS). In a tweet on the social media platform X (Twitter), Union Minister Anurag Thakur said that the central government will bear the entire amount of Rs 3,760 crore related to the establishment of the battery energy storage system.
The scheme envisages the development of 4,000 MW of BESS projects by 2030-31. The fund will be released in five tranches by 2030-31 and will help create 4,000 MWh of storage.
India has set a target of meeting half of its energy needs through renewable energy and non-fossil energy sources in the next few years. For this the government is launching various schemes. Work on renewable energy projects is also going on through Public Private Partnership.
Battery Energy Storage Systems (BESS) consists one or more rechargeable batteries that can store energy from different sources like solar and wind and release it when needed. BESS used to balance electric grid, provide backup power and overall it improves grid stability.
The working process of BESS is simple. The Battery Energy Storage System consists of number of batteries which receive electricity from various sources such as power grid, power station and Solar panel. The BESS store the energy and release it when needed. Nowadays BESS are connected with software for proper management of energy which overall increase efficiency.