AES Sees $50 Billion Opportunity in Indian Energy Storage


AES Sees $50 Billion Opportunity in Indian Energy Storage

India is presenting a potential investment opportunity of $50 billion in battery storage facilities that could help integrate renewable energy into the grid, replace polluting diesel-fueled power and boost electric mobility, the head of American energy firm AES Corp. said.

“We think India is going to be a big market for energy storage,” Chief Executive Officer Andres Gluski said in an interview Tuesday. He spoke after AES completed the country’s first 10-megawatt battery-storage system to support the grid in national capital New Delhi.

Built in partnership with Mitsubishi Corp. for almost $9 million, the project will demonstrate the benefits of energy storage to clients, regulators and the government, Gluski said. Read More

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