GoodEnough Energy, India's first manufacturer of battery energy storage systems, announced it will invest ₹450 crore to set up a 20 GWh per annum capacity plant in Jammu & Kashmir by 2026.
The announcement came at the 4th international Stationary Energy Storage Conference organized in New Delhi by the India Energy Storage Alliance, India's premier body for companies operating in the energy storage, e-mobility and green hydrogen space, to facilitate industry-government dialog on a sector of critical national importance.
This will be India's largest capacity BESS plant, the company's founder and CEO Akash Kaushik told reporters. The company has already invested ₹160 crore to set up 7 GWh of BESS manufacturing capacity which will become operational by October, Kaushik said.
The new plant will help the company reduce over 5 million tonnes of CO2 in a year, while the expanded capacity will enable it to reduce 15 million tonnes of CO2 emissions by 2026, he added.
Kaushik, who also spoke on the development of indigenous BESS for the Indian market, pointed out that BESS prices have improved and now run in the range of around ₹3 per KWh/unit, making them comparable to other sources of electricity, including fossil fuel sources.
Summing up, he said, "The electricity industry is undergoing significant change, with a growing need for clean, reliable, and affordable power. This transformation demands innovative technical solutions and grid optimization strategies that can unlock new revenue streams and optimize energy usage."
Speaking on the company's giga factory, he added, "With India's largest and state-of-the-art BESS giga factory in J&K, we are focusing on developing indigenous BESS technologies with global competence and cutting-edge features."