Power ministry announces additional ₹5,400 cr VGF for 30 GWh battery energy storage
New Delhi: Union minister for power Manohar Lal on Tuesday said the government will roll out an additional viability gap funding (VGF) worth ₹ 5,400 crore for setting up 30 GWh of battery energy storage systems (BESS).
Addressing journalists, the minister announced several plans to meet rising power demand and achieve India's ambitious net zero target of 2070. The incentive will be over and above the existing incentive worth ₹ 3,700 crore VGF under which 13.2 GWh of BESS is currently under implementation.
The initiative will attract investments worth ₹ 33,000 crore, he said. Under the scheme 15 states will receive allocations for 25 GWh of storage capacity and state-run NTPC Ltd will get 5 GWh. The Union minister said the first round of tender for the new VGF will be floated within 3 months.
"India is targeting 393 GW of renewable energy capacity (293 GW solar and 100 GW wind) by 2030. But renewable energy is highly intermittent and needs energy storage solutions to ensure round the clock power supply and grid stability. Hence, BESS is essential especially to meet peak demand during non-solar hours," Lal told reporters.
Solar and wind are intermittent sources of renewable energy and India is targeting 500 GW of non-fossil capacity by 2030. Storage systems including BESS and pump storage plants (PSP) are expected to play a key role in stabilizing power supply and the grid.
According to the India Energy Storage Alliance, an industry grouping, the country's energy storage sector is likely to attract ₹ 4.79 trillion investment by 2032. The CEA estimates a project requirement of 411.4 GWh (175.18 GWh from PSP and 236.22 GWh from BESS) of energy storage systems by FY32.
"The first tender under the new VGF allocation would be launched in three months," the minster said.
Lal also said that during the recent conflict with Pakistan, the power sector in the country, largely the state load dispatch centres (SLDC) faced a number of cyber-attacks which were thwarted adequately via firewalls in the Indian power system.
On 3 May, Mint reported that India has stepped up the security of its national power grid as heightened tensions with Pakistan revive memories of cyberattacks in recent years and the power ministry has tightened security protocols at the load dispatch centres which manage the demand and supply of power.
He said that work is underway to set up undersea transmission cables to the UAE and Saudi Arabia with an estimated capex of ₹ 90,000 crore. High-Voltage Direct Current (HVDC) sub-sea transmission cables of 1,400 kilometres and 1,600 kilometres would be established from India to Saudi Arabia and the UAE respectively. India has already signed agreements with both the countries for the inter-connectivity of the power grids.
Further, as government aims to boost nuclear energy in the country in order to increase the base load capacity to maintain grid stability amid rising renewable energy capacity, the minister said that the Centre has suggested states, which are not in the Seismic zone 5 (Very High Damage Risk Zone due to earthquake), to set up nuclear power projects. Currently, India has over 8 GW of installed nuclear power capacity and aims to reach 22 GW by 2032 and 100 GW by 2047.
In another development, the power minister said that the government has decided to standardize temperatures of air conditioners in the country and mandate a range.
"The temperature in ACs will be set between 20 degree celsius and 28 degree celsius," he said, adding that guidelines on this would be released soon.
The move is aimed at energy conversation, energy efficiency and curbing climate change. Cooling requirements is a key factor for the country's peak power demand touching record levels in the past three years.
Last year, India witnessed its highest-ever peak power demand of 250 GW. This year, it has hit 241 GW so far, on 5 June. The Central Electricity Authority has projected a peak of 270 GW this summer season.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
19 minutes ago
- Business Standard
OneSource eyes weight-loss drug boost to order book
Indian contract drug manufacturer OneSource Specialty Pharma expects strong growth in its order book over the next three years, driven by the global boom in weight-loss drugs, its top executive said on Monday. Global drugmakers, including generic drug manufacturers in India, are racing to develop their versions of blockbuster injectable obesity drugs from Denmark's Novo Nordisk and U.S.-based Eli Lilly. The active chemical compound in Novo's injectable Wegovy drug, semaglutide, will go off patent in 2026 in a few markets, including India. OneSource, which added 15 orders related to obesity and diabetes drugs in fiscal year 2025, said there are more in the pipeline. The global obesity market is estimated to be valued at $150 billion by the early 2030s. The company develops and manufactures complex biological drugs, vials, injectables, and soft gelatin capsules for larger pharmaceutical firms. "Our growth over the next few years will be driven by commercial launches of GLP-1s (weight-loss and diabetes drugs) by our global customers in all the key markets opening post patent expiry in 2026," CEO Neeraj Sharma told Reuters in an interview. Backed by increasing demand from weight-loss drug manufacturers, OneSource's order book across all service verticals should expand in line with 30% compound annual growth rate through fiscal year 2028, according to the CEO. OneSource, which competes with larger players such as Piramal Pharma and Divi's in contract research, development and manufacturing, is investing about $100 million to expand its drug device facilities, the CEO said. The company, which was demerged from Strides Pharma Science and listed in January, is also looking at setting up a global footprint in manufacturing, both in Europe and the U.S. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Fashion Value Chain
21 minutes ago
- Fashion Value Chain
HRKatha Launches India's First Recognition Programme Exclusively for Emerging HR Leaders
In a bold departure from conventional industry recognition, HRKatha, India's leading HR publication, today announced the launch of the HRKatha Rising Star Leadership Awards – the country's first awards programme designed exclusively to celebrate emerging talent in human resources. The groundbreaking initiative challenges the long-held industry belief that leadership recognition should correlate with years of service, instead focussing on impact, innovation, and the potential to reshape India's HR landscape. 'The HR profession has evolved dramatically, and we need recognition platforms that reflect this transformation,' said Prajjal Saha, Founder & Editor of HRKatha. 'These awards aren't about celebrating past achievements – they're about identifying the leaders who will shape the future of work in India. We're looking for professionals who think differently, act boldly, and create lasting impact regardless of their years in the industry.' A response to industry transformation The awards programme emerges at a critical juncture for Indian HR. Digital transformation, artificial intelligence integration, and evolving workforce expectations have fundamentally altered the profession's landscape. Yet traditional recognition systems have remained anchored in outdated paradigms that privilege tenure over innovation. Consider the profound shifts witnessed across Indian organisations: the rise of people analytics transforming decision-making, AI revolutionising talent acquisition processes, employee experience emerging as a strategic discipline, and diversity and inclusion evolving from compliance function to business imperative. These transformations weren't driven by decades-old playbooks but by professionals willing to challenge conventional wisdom and experiment with new approaches. The HRKatha Rising Star Leadership Awards recognises this reality, celebrating seven distinct categories that represent both current excellence and future potential in HR: HR Tech Innovator : Professionals leveraging technology to solve complex people challenges Talent Acquisition Expert : Those redefining organisational attraction and hiring strategies Diversity & Inclusion Champion : Leaders creating truly inclusive workplaces Employee Experience Architect : Professionals crafting engaging employee journeys Organisational Change Leader : Those navigating transformation with excellence HR Business Partner of the Year : Masters of translating people strategy into business results Emerging HR Leader: Early-career professionals demonstrating exceptional promise â Industry veterans champion fresh perspective The programme's credibility stems from its distinguished jury panel, comprising CEOs and CHROs with over 350 years of combined experience across diverse industries. Their enthusiasm for recognising emerging talent reflects a broader industry acknowledgment that innovation often comes from unexpected places. 'Delighted to be part of the HRKatha Rising Star Leadership Awards with such a stellar panel,' said Sandip Ghose, MD & CEO, Birla Corporation Ltd. 'HR has changed in a way we could not have imagined even a few years ago. So, greatly looking forward to the ideas the young trailblazers bring to the table. Sure, it is going to be an enriching experience for the jury as well.' Praveen Purohit, Deputy CHRO, Vedanta Group, echoed this sentiment, 'Superb opportunity to showcase best practices and leadership that can inspire many more to rise in time to come. For now, 'own your rise'! I look forward to seeing some of the motivating entries along with my other jury colleagues.' A stellar jury panel Sandip Ghose (MD & CEO, Birla Corp) Harit Nagpal (CMD, Tata Play) Ramesh Mitragotri (Group Executive President – HR, Aditya Birla Group) Ashwani Prashara (CHRO, Hydrocarbons, Reliance Industries) Saba Adil (CHRO, Edelweiss Life Insurance) Praveen Purohit (Dy CHRO, Vedanta Group) Ayush Gupta (Director – HR, GAIL India) Subir Verma (Executive Director & CHRO – Power Business, RP Sanjiv Goenka Group) Vinay Ranjan (Director HR, Coal India) Rajorshi Ganguli (President & Global CHRO, Alkem Laboratories) Pooja Minocha (CHRO, Bata India) Rupesh Tripathi (Head People, Performance & Culture, KPMG) Defining the Rising Star mindset What distinguishes a rising star from traditional HR professionals According to the programme's framework, it's not about having all the answers but asking better questions. It's not about following established processes but improving them. It's not about managing people but inspiring them to achieve their potential whilst driving organisational success. Rising stars share distinct characteristics: comfort with ambiguity, embracing technology as an enabler rather than threat, understanding evolving employee needs and adapting accordingly, and measuring success not just in metrics but in meaningful human outcomes. 'Rising stars understand that HR is no longer a support function – it's a strategic differentiator,' explains Saha. 'In an economy increasingly driven by talent, knowledge, and innovation, HR professionals hold the keys to organisational success. Rising stars embrace this responsibility and leverage it to drive meaningful change.' Building a community of change-makers Beyond individual recognition, the awards programme aims to build a community of forward-thinking professionals who will collectively shape India's future of work. Winners won't merely receive recognition – they'll join an exclusive network of innovators, change-makers, and visionaries. This community approach addresses a critical industry need. When rising stars connect, collaborate, and share insights, the entire profession benefits. The programme creates a platform for cross-pollination of ideas, peer learning, and collective advancement. Industry impact and expectations As nominations open for the inaugural awards, organisers anticipate discovering transformative stories across Indian organisations. Expected entries include professionals who have transformed recruitment processes using AI, created inclusive cultures in traditionally homogeneous industries, designed employee experiences that rival consumer brands, and led organisational changes that seemed impossible just years ago. The traditional HR career path – starting at entry level and slowly climbing hierarchy over decades – is giving way to a more dynamic model where impact and innovation can accelerate advancement. The HRKatha Rising Star Leadership Awards acknowledges this reality and celebrates those who embody it. A broader industry call The initiative extends beyond recognition to catalyse broader industry conversations. What skills will tomorrow's HR leaders need How can organisations better prepare emerging talent for future challenges How can the industry create more opportunities for innovation and experimentation 'To every HR professional reading this: if you've implemented something innovative, if you've challenged the status quo, if you've created positive change in your organisation or the lives of employees – consider yourself a potential rising star,' urges Saha. 'The criteria for these awards isn't about having the perfect resume or the longest tenure. It's about having the courage to lead, regardless of your title or years of experience.' Looking ahead The inaugural ceremony is scheduled for August 2025, marking what organisers believe will be a new chapter in HR recognition – one that celebrates potential over position, innovation over tradition, and impact over tenure. 'Every established leader was once a rising star. Every industry transformation began with someone willing to challenge conventional wisdom. Every great organisation was built by people who saw possibilities where others saw limitations,' reflects Saha. 'The HRKatha Rising Star Leadership Awards is our commitment to identifying, celebrating, and nurturing these visionaries.' The programme represents more than recognition – it's a statement about the industry's future direction and a commitment to nurturing the talent that will define it. By 2030, half of todays HR practices will be obsolete. The professionals who will define what replaces them arent sitting in corner offices-theyre in cubicles, co-working spaces, and virtual meetings, quietly revolutionising people practices one innovation at a time. The HRKatha Rising Star Leadership Awards is our attempt to find them before everyone else does. For more information visit
Hans India
23 minutes ago
- Hans India
No development in the state for two years, no guarantee even for CM Siddaramaiah: R Ashok
Mysuru: In the last 11 years, continuous development work has been carried out under Prime Minister Narendra Modi. However, in the state, not a single development project has taken place in the last two years, said Opposition Leader R Ashok. Speaking at a press conference, he compared the 10-year rule of Manmohan Singh with the 11-year rule of Narendra Modi, stating that development has increased fourfold under Modi. Globally, India's economy was ranked 10th or 11th earlier, but now it stands at fourth place, and PM Modi aims to take it to third. During Indira Gandhi's time, India had to beg for wheat from other countries. Under PM Modi, India has supplied COVID vaccines to over 100 countries, he said. During the UPA regime, per capita income was ₹6,000, which has now risen to ₹20,000. Gas cylinder subsidies, which were ₹450 then, are now ₹500. The unsubsidized rate, which was ₹1,250, is now ₹850. In the UPA's 10 years, there were over 9,000 terror attacks. Now, every attack is met with a response. When Mumbai was attacked, no retaliation was made, but after the Pulwama attack, Indian soldiers destroyed terrorist bases, he said. Previously, there were 387 medical colleges; now there are 704. The number of airports has increased from 74 to 149. National highways, which were 91,000 km, are now 1.45 lakh km. AIIMS institutions have grown from 7 to 22. Medical seats have increased from 82,000 to 1.50 lakh. The national budget, which was ₹17 lakh crore, is now ₹50.65 lakh crore. LED bulbs, which cost ₹450 earlier, are now available for ₹70, he said. Earlier, we used to see bullet trains in other countries. Now, 60% of the work on a bullet train in India is complete, and it will soon be operational. Agricultural subsidies, which were ₹30,000 crore earlier, are now ₹1.27 lakh crore. Cooking gas connections have increased from 14 crore to 31 crore. In 11 years, 4 crore houses and 11 crore toilets have been built, and 27 crore people have been lifted out of poverty, he stated. The Congress has always been sympathetic to Naxals, but now there is a goal to completely eradicate the Naxal movement. Significant development work has also taken place in the Northeast states. There was a mindset to abandon Jammu and Kashmir, but after the revocation of its special status, development has increased there, and tourism has boosted local incomes, he said. No guarantee even for Siddaramaiah Chief Minister Siddaramaiah himself has no guarantee and is an outgoing CM. His government has achieved nothing in two years. DK Shivakumar has built a separate fortress, while MB Patil and Satish Jarkiholi are acting independently. Not a single irrigation project has been implemented in two years, he alleged. In Congress, everyone claims they will become CM. Parameshwara and DK Shivakumar are waiting to become CM. Due to guarantees, no work is happening, and people want the government to collapse. Four people are pulling at the CM's chair. The BJP has exposed the MUDA scam and the Valmiki Corporation scam, he said. The government is responsible for the stampede tragedy but is blaming the police. The CM himself admitted to inviting the Governor. The Chief Secretary personally called and invited the Governor, but this was not disclosed earlier. To cover up their mistake, action was taken against Govindaraju, he said.
