Whalesbook
Rating agency ICRA highlights that energy storage systems are essential for India to integrate its rapidly growing renewable energy (RE) capacity into the national grid. With RE projected to surpass 35% of power generation by FY2030, challenges like delayed Power Purchase Agreements (PPAs) and transmission constraints are slowing project execution. ICRA emphasizes strengthening grid infrastructure and storage, noting government incentives and falling battery prices improving the economics of Battery Energy Storage Systems (BESS), although operational track records remain key.