Govt nod to ₹3,760 cr viability gap funding for battery storage system

The government has approved ₹3,760-crore viability gap funding for creating a battery energy storage system, Union Minister Anurag Thakur said. "The scheme envisages development of 4,000 MWh of BESS projects by 2030-31, with the financial support of up to 40% of the capital cost as budgetary support," Thakur said, adding, "This move will help reduce India's dependence on fossil fuels."