Ltd and Abu Dhabi Investment Authority (ADIA) backed Greenko’s pivot towards battery storage comes, as India readies its proposed ₹18,000 crore production-linked incentive package for battery storage manufacturing, Mint reported earlier. With China dominating the lithium-ion cell manufacturing, India wants to avoid repeating what happened with solar equipment manufacturing, wherein China leveraged its first-mover advantage to capture the market. The value chain comprises raw material processing, and manufacturing of separators, cathodes, electrolyte, anode, cell and finally the battery storage packs. This assumes importance given India’s ambitious clean energy targets and the intermittent nature of electricity from clean energy sources such as solar and wind. Commenting upon the deal, Niti Aayog’ chief executive officer Amitabh Kant in a tweet on Friday said, “tremendous boost for Renewables 3.0 investments in Energy Storage & clean energy tech under PMs Atmanirbhar vision."

Source: Mint September 13, 2020 09:22 UTC