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      "text": "The tariffs determined for energy storage tenders in the BESS and Pumped Storage System (PSP) categories have shown a downward trend over the past three years.",
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      "text": "Figure 38: Projected BESS capacity requirement (in GW)",
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      "text": "Guidelines for Procurement and Utilization of Battery Energy Storage Systems: These guidelines provide standardization and uniformity in procurement of BESS projects and a risk-sharing framework between various stakeholders involved.",
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      "text": "Viability Gap Funding (VGF): In September 2023, the Ministry of New and Renewable Energy approved VGF of INR 9,400 crore (US$1.2 billion) for development of 4 GWh BESS energy capacity. Up to 40% of capital cost for BESS shall be provided by the central government.",
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      "text": "BESS capacity requirement: 47.24 GW",
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      "text": "The Government of India is also cognizant of the role of battery storage technology and has taken several steps to enhance BESS infrastructure:",
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      "text": "BESS is a convenient energy storage technology that is not restricted by location and can be deployed quickly. Its flexibility allows it to respond swiftly to fluctuations in supply and demand, while offering long-term reliability by handling frequent charge and discharge cycles with minimal degradation.",
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      "text": "As of now, no gigawatt-scale (GW-scale) BESS capacity is operational. However, in February 2024, SECI successfully commissioned India's largest BESS project in Chhattisgarh, designed to store solar energy. The project includes a 40-megawatt (MW) BESS with an energy storage capacity of 120 megawatt-hours (MWh), paired with a solar photovoltaic (PV) plant that has an installed power capacity of 152.325 MW.",
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      "text": "With the growth of renewable energy (RE) generation in India, the Central Electricity Authority (CEA) anticipates a need for 8.68 GW of BESS capacity by the fiscal year 2026-27 and 47.23 GW by 2031-32. The estimated fund requirement for developing the necessary capacity during the five-year period from 2022 to 2027 is about INR56,647 crore.",
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      "text": "The tariffs determined for energy storage tenders in the BESS and Pumped Storage System (PSP) categories have shown a downward trend over the past three years. A continued decrease in battery prices could lead to a lower Levelized Cost of Energy (LCOE) for renewable energy developers.",
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      "kind": "source-note",
      "text": "102. Economic Times (September 2023) \"Why it is urgent for India to focus on Battery Energy Storage Systems\" 103. CEA 104. PIB Press Release dated 6th December 2023",
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      "text": "3.7.1 Battery Energy Storage System (BESS)",
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