On November 4, the Union Cabinet of India approved a substantial Rs 17,500 crore viability gap funding scheme aimed at enhancing the country's grid-scale energy storage capabilities. This initiative is set to add an impressive 92 gigawatt-hours (GWh) of new capacity, which represents a 170 percent increase over India's current grid-scale storage capacity of approximately 54 GWh. The breakdown of the new capacity includes 30 GWh from Battery Energy Storage Systems (BESS), 60 GWh from pumped hydro storage, and 2 GWh from emerging technologies, as reported by the Indian Express.

In addition to the energy storage scheme, the Cabinet also approved a Rs 2,814 crore scheme focused on critical mineral processing. This initiative aims to support the processing of vital minerals, including lithium and nickel, which are essential for various high-tech applications. The capital support for this scheme will be capped at Rs 500 crore per beneficiary for lithium projects and Rs 900 crore per beneficiary for nickel projects, according to an official statement from the government.S2

These initiatives reflect India's strategic push towards enhancing its energy infrastructure and securing critical mineral resources, which are crucial for the country's technological advancement and energy transition goals. The focus on battery and pumped hydro storage aligns with global trends towards renewable energy adoption and sustainability efforts.S1S2