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The Hindu

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PTI

Govt okays ₹3,760 cr for up to 40% viability gap funding for 4,000 MWh battery energy storage system

BESS Renewable Energy Anurag Thakur

The government on Wednesday approved ₹3,760 crore for viability gap funding of up to 40% of total capital cost to set up 4,000 MWh battery energy storage system in the country, Union minister Anurag Thakur said.

The entire ₹3,760 crore viability gap funding (VGF) will be borne by the central government, the Information & Broadcasting Minister said while briefing the media about the Cabinet decisions.

The VGF will be released in five tranches till 2030-31 and help in creation of 4,000 MWh storage across the country.

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