New Delhi [India], November 4 (ANI): India’s battery energy storage sector is poised for significant expansion over the next two years amid rising electricity demand and the country’s ambitious renewable energy targets, Central Electricity Authority (CEA) Chairperson Ghanshyam Prasad said, highlighting substantial investment and technological opportunities for domestic and international players.
Speaking to ANI on the sidelines of the Bharat RE Summit & Expo 2026, Prasad highlighted India’s renewable energy expansion plans, stating that the country aims to add another 500 gigawatts (GW) of capacity over the next decade.
“From 300 gigawatts at present, we are looking to add another 500 gigawatts over the next 10 years. This clearly shows the path we are likely to follow,” he said.
Emphasising the importance of international participation, Prasad said India’s expanding energy sector offers significant opportunities for global investors and technology providers.
“The participation of all stakeholders is extremely important, including foreign stakeholders. International stakeholders certainly stand to benefit because India offers tremendous scale,” he said, highlighting, “Anyone who wants to come to India, invest here and advance their technology has a very good opportunity to understand the scale and potential that India offers. For domestic players, the sky is the limit. There is practically no limit to how far we can grow.”
Highlighting the growing importance of energy storage, Prasad said, “We have around 5.3 GW of battery energy storage and 7 GW of pumped hydro storage. Both segments are expected to grow very rapidly over the next 10 years.”
As per Prasad, battery energy storage capacity is likely to expand significantly over the next two years to address the gap between rising electricity demand and available storage capacity.
“I expect at least around 10 GW of additional battery energy storage capacity to be added over the next six to seven months. That is the kind of scale we are looking at in the immediate future,” he added.
Commenting on the memoranda of understanding (MoUs) signed in the renewable energy sector, Prasad said such agreements would strengthen collaboration between participating stakeholders and support project development.
“Naturally, all MoUs are beneficial for both partners. The signatories to these agreements will work together and make efforts to ensure that the proposed projects and initiatives are developed,” he said. (ANI)
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