Chennai : Today, climate change and rising greenhouse gas emissions demand global action. Climate technology is pivotal in combatting this challenge and paving the way towards a Net-Zero future. Positioning India as a driving force in this transition
Industry body India Energy Storage Alliance (IESA) on Friday unveiled its ‘India Battery Manufacturing Vision’ targeting over 500GWh capacity by 2035, having potential to create over 2.6 million jobs and bring investment worth USD 35 billion in the country.
IESA is focused on the development
The India Energy Storage Alliance (IESA) has unveiled its India Battery Manufacturing Vision , aiming to achieve over 500GWh capacity by 2035. This could potentially create more than 2.6 million jobs and attract $35 billion in investment. IESA is focused on developing advanced energy storage, green hydrogen, and e-mobility technologies in India. The organization anticipates that the first gigafactory in India will begin commercial production in 2024, with a planned capacity of over 50 GWh by 2027-28. The Indian battery supply chain industry could reach a manufacturing capacity of over 1,000 GWh with the right policy and regulatory framework.
The demand for electric vehicle (EV) chargers in India is expected to grow at a compound annual growth rate (CAGR) of 65% and reach 3 million units by 2030, according to a report by Customized Energy Solutions and India Energy Storage Alliance. The growth in demand will be driven by government initiatives and private investments. Several public sector undertakings (PSUs) have also announced tenders for charging stations, further boosting the demand for EV chargers.