Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
GoodEnough Energy plans to open India's first battery energy storage gigafactory in the northern region of Jammu and Kashmir by October. According to a statement from GoodEnough, the facility will assist industry in reducing more than 5 million tonnes of carbon emissions annually. India wants to achieve net zero by 2070.
According to its founder, Akash Kaushik, GoodEnough has already invested ₹1.5 billion in the 7 gigawatts per hour plant and plans to spend an additional ₹3 billion by 2027 to increase capacity to 20 GWH.
Battery energy storage projects are key to India's ambitious aim to increase renewable energy generation to 500 GW by 2030, up from 178 GW at present. India’s government is offering $452 million in incentives to companies under a programme to promote battery storage projects. Such systems enable the storage of energy from solar, wind, and other renewable sources so that it can be released when needed.
Also Read : Gensol Engineering commissions 10.6 MW rooftop solar project in MP India's coal sector exceeds FY24 capex target with ₹22,448 cr investment
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