JSW Steel rises 2% on gas supply worries HSBC raises Tata Steel target to ₹250 British Steel to supply 120,000 mt billet to Nigeria ₹3,200 crore Tata Steel EAF starts in Ludhiana
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.
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