India’s First Battery Storage Gigafactory to Start Operations in J&K

• Good Enough Energy has announced that it will start operations at India’s first battery energy storage gigafactory in the northern region of Jammu and Kashmir by October 2023.
• According to GoodEnough, the facility will help industries cut more than 5 million tons of carbon emissions in a year. India has set a goal to become net zero by 2070.
• GoodEnough has already invested 1.5 billion rupees ($18.07 million) in the 7 gigawatts per hour (GWH) facility.
• The company plans to spend an additional 3 billion rupees by 2027 to increase the capacity to 20 GWH.
• These plans were revealed by GoodEnough’s founder, Akash Kaushik.
• The Indian government is offering incentives worth $452 million to companies under a program to promote battery storage projects.
• Battery storage systems enable the storage of energy from solar, wind, and other renewable sources. This stored energy can be released when needed, making renewable energy more reliable and consistent.
• The establishment of India’s first battery storage gigafactory is a significant step towards meeting the country’s renewable energy targets and reducing its carbon footprint. The facility’s operations in Jammu and Kashmir will play a pivotal role in supporting the growth of the renewable energy sector in India.

Also Read: National: Weekly Current Affairs Bitbank (February 12 to 18, 2024): Where is the Regional Centre of Sangeet Natak Akademi, known as 'Dakshin Bharat Sanskritik Kendra', being established?

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Published date : 22 Mar 2024 05:30PM