₹7.36 trillion question: Can India store enough power to keep the lights on?

India's ambitious plan to generate 122.77 gigawatts of pumped storage capacity through 87 projects may necessitate an investment of ₹7.36 trillion, according to industry experts. The government aims to add large-scale storage to support its rapidly expanding renewable energy capacity and maintain grid stability as variable renewable energy sources such as solar and wind become increasingly prevalent.

Pumped storage plants can store surplus renewable power during off-peak hours and release it when demand rises, thus helping to maintain grid stability. As of August 2026, 15.87 GW of pumped storage projects were under construction, while another 10.4 GW had received clearance from the Central Electricity Authority (CEA). Survey and investigation are ongoing for a further 96.5 GW of potential capacity.

The CEA has set a roadmap to install 100 GW of pumped storage capacity by 2035-36, with an estimated average cost of ₹6 crore per megawatt. Currently, India has 7.42 GW of pumped storage capacity, with a total potential of 345.38 GW. The investment push comes as India struggles to fully leverage its intermittent solar and wind resources, as inadequate storage can threaten grid stability during periods of low generation caused by cloud cover, rain, or lower wind speeds.

The CEA's target, despite being ambitious, is considered achievable, with suitable locations for pumped storage projects identified in the Western Ghats, Eastern Ghats, and other regions.