India’s battery energy storage landscape continues its rapid evolution, marked by major institutional support and public-private collaboration. In a LinkedIn post, Diep Nguyen-van Houtte of the International Finance Corporation (IFC) announced IFC’s participation in financing India’s largest stationary battery energy storage system (BESS), developed by the IndiGrid Infrastructure Trust. The 168 MW/360 MWh project, supported by the Clean Technology Fund and Global Energy Storage Program, is a key milestone in India’s grid modernization efforts.
IndiGrid has also confirmed it received a Letter of Intent from Gujarat Urja Vikas Nigam Ltd (GUVNL) to build and operate a 180 MW/360 MWh BESS in Gujarat. The project will be developed on a build-own-operate basis for 12 years, with a fixed tariff of INR 449,996 per MW/month. It is part of a broader 250 MW/500 MWh BESS initiative by GUVNL and will be grid-connected through a GETCO substation, classifying it as a transmission asset. Press release
These efforts are the outcome of long-standing engagement by the World Bank and IFC with India’s energy storage ambitions. Since 2019, when the AES Corporation delivered India’s first 10 MW BESS, regulatory advances and declining battery costs have enabled broader deployment. The World Bank, through collaboration with the Solar Energy Corporation of India (SECI), played a pivotal role in structuring early BESS procurements—laying the foundation for robust scaling.
India has pioneered unique storage models, such as Round-The-Clock (RTC) power purchase agreements and daily two-cycle battery usage, setting global benchmarks in innovation. With over ten large-scale BESS auctions and more than 1 GW awarded, India is positioning itself as a global leader in renewable-aligned grid resilience.
These coordinated developments underscore India’s strategic path toward a clean, reliable, and flexible energy future.
