India approves $19.42 billion renewable energy program

India's cabinet has greenlit a $19.42 billion renewable energy program to bolster the country's power grid and storage capacity, according to the Information Minister. The initiative, which amounts to 1.86 trillion rupees, encompasses a 1.36 trillion rupees plan to fortify transmission systems within states. This enhancement will facilitate the transmission of up to 135 gigawatts of clean energy, according to the government's statement.

The funding allocation aims to tackle India's ongoing challenge of expanding its transmission network in tandem with the monthly increase in clean energy capacity. Additionally, the government unveiled a 500 billion rupees incentive scheme to encourage the installation of 50 gigawatt-hours of battery energy storage systems. Presently, India contends with a shortfall in storage infrastructure to retain the renewable energy produced during daylight hours, underscoring the critical role of this program in addressing this issue.