Large-scale adoption of energy storageis expected to attract investment over $3 billion in the next three years, industry body India Energy Storage Alliance (IESA) said in a statement on Wednesday.
“These opportunities are expected to attract investment in 2-4 giga factories for advanced li-ion batteries in India, attracting over $3 billion investments in next 3 years. Already, over 1 GWh of annual assembling capacity is being set up for converting imported li-ion cells into battery modules by various Indian companies,” IESA said.
In a bid to promote energy storage, IESA is partnering with the Indian Electrical and Electronics Manufacturers’ Association (IEEMA) to conduct a two-day master class on energy storage technology, applications and manufacturing process in Mumbai on 17 and 18 November 2017.
“The Indian energy storage market is gearing up for large scale adoption. India is one of the largest markets for lead acid batteries with annual sales of $6 billion. India is now poised to adopt advanced energy storage technologies that can act as enablers for 21st century electric grid and transitioning to eMobility,” IESA said. Read More…