Cabinet approves ₹14,500-crore scheme to add 92 GWh energy storage capacity
- On Wednesday, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved a Rs 2,814 crore Capex Support Scheme to promote critical mineral processing over five years from FY 2026-27 to 2030-31.
- India remains substantially import-dependent for lithium, nickel, and cobalt, leaving the nation vulnerable to supply disruptions that threaten manufacturing and economic security.
- Under the scheme, the government will provide a 30 per cent capital subsidy for four processing plants: two lithium facilities with 30 kt capacity each and two nickel plants with 50 kt capacity each.
- Manufacturing sectors including electronics, semiconductors, batteries, and defence equipment will benefit from increased domestic processing capacity using both recycled materials and extracted ores.
- The policy advances Atmanirbhar Bharat objectives by building domestic processing infrastructure, positioning India to address strategic vulnerabilities and reduce dependence on global supply chains for high-purity compounds.
49 Articles
49 Articles
Rs 14,500 Crore push to power India round the clock
The Union Cabinet, chaired by Prime Minister Narendra Modi on November 4, approved a Viability Gap Funding (VGF) Scheme worth Rs 14,500 crore for grid-scale energy storage. The scheme will back 92 GWh of new storage capacity between FY 2026-27 and FY 2030-31. It is expected to draw a total investment of Rs 97,600 crore. The new capacity equals 170 per cent of India’s present grid-scale storage base. In plain terms, the country plans to build in …
India approves Viability Gap Funding to support 92GWh of BESS and pumped hydro energy storage capacity
India’s Union government has approved the next IR145 billion (US$1.5 billion) phase of the Viability Gap Funding (VGP) policy support mechanism for energy storage capacity additions. In addition, a Ministry of Power official has reportedly said state power companies will likely soon be required to include energy storage in new renewable energy developments. Announced earlier […]
Cabinet approves extension of 850 fast-track courts for rape, child abuse cases; clears 92 GWh energy storage & critical minerals scheme
The Union Cabinet on Wednesday approved key decisions aimed at ensuring swift justice in cases of atrocities against women and children, bolstering India's green energy infrastructure, and advancing domestic processing of critical minerals, Union Minister Ashwini Vaishnaw announced.
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