New Delhi, July 27 (IANS) The Ministry of Power informed Parliament on Monday that the government plans to invest Rs 3.49 lakh crore by 2031-32 for setting up a projected Battery Energy Storage System (BESS) installed capacity requirement of 8.68 Giga Watt (GW)/34 Giga Watt hour (GWh) by the year 2026-27 and 47.24GW/236 GWh by 2031-32. Similarly, another Rs 1.29 lakh crore will be invested in the projected Pumped Storage Plant (PSP) installed capacity requirement of 7.45 GW/47 GWh by the year 20…
Latest Energy Storage Systems News & Updates
Chennai, March 5 (IANS) In a major step towards strengthening renewable energy integration and peak power management, the Tamil Nadu government has initiated the process to develop the 1,000 MW Vellimalai Pumped Storage Hydro-Electric Project in Kanniyakumari district. The state-run Tamil Nadu Green Energy Corporation Limited (TNGECL) has floated a Request for Proposal (RFP) to select a developer for the project under the Union Ministry of Power’s tariff-based competitive bidding guidelines. T…
Seoul, Dec 26 (IANS) South Korean battery maker LG Energy Solution Ltd. said on Friday it has agreed with a US company to terminate a supply contract signed in 2024 by mutual consent.In a regulatory filing, LG Energy Solution said it has canceled the supply deal worth 3.9 trillion won ($2.69 billion) signed with U.S.-based battery pack producer Freudenberg Battery Power System (FBPS) LLC.LG Energy Solution said the termination came as FBPS decided to pull out from the battery industry, reports Y…