With a direct funding of $38.5 million from the International Finance Corporation, the joint BESS project with IndiGrid claims to be one of the largest in the country.
A battery energy storage system (BESS) is set to be developed in Gujarat through a partnership between International Finance Corporation (IFC) and IndiGrid. The project will offer 180MW of storage capacity and 360 MWh of discharge capability, intended to support the power grid during peak demand and improve reliability.
The IFC has pledged ₹4.6 billion (about $55 million) toward the project. This includes direct funding of $38.5 million, with an additional $16.5 million coming from the Clean Technology Fund (CTF), which operates under the World Bank’s Climate Investment Funds.
Since 2023, IFC has supported IndiGrid with a cumulative ₹32.5 billion (around $380 million) in financing.
The company, which claims to be the country’s first Infrastructure Investment Trust in the power sector, oversees 43 energy-related assets, including transmission networks, substations, solar installations, and existing battery storage.
“With IFC’s support, we are proud to lead the deployment of one of India’s first and largest BESS assets in Gujarat,” highlighted Harsh Shah, Managing Director, IndiGrid.
The upcoming facility in Gujarat is among the larger standalone BESS projects currently planned in India. It also aligns with the state’s aim to reach 100GW of renewable energy capacity by 2030.
“Battery energy storage is critical for diversifying India’s energy mix and ensuring
clean power is available when demand is highest. IndiGrid has been a trusted partner to IFC in advancing sustainable and inclusive infrastructure in India,” noted Imad N Fakhoury, Regional Director for South Asia, IFC.
India has set a national goal to install 500GW of renewable energy capacity by 2030. As variable energy sources like wind and solar grow, utility-scale storage has become critical to balance the grid and maintain steady power supply.
