India's Sterlite Sees $35 Billion Energy Storage Opportunity
Sterlite, one of India’s biggest private transmission firms, sees $35 billion opportunity into energy storage projects.
(Bloomberg) -- Sterlite Power Grid Ventures Ltd., one of India’s biggest private transmission companies, sees a $35 billion investment opportunity into grid-connected energy storage projects in the country over the next decade to support government renewables targets.
Chief Executive Officer Pratik Agarwal said in an interview in New Delhi that he expects central and state governments to issue battery tenders totaling several gigawatts of capacity by no later than the end of next year.
“We as a transmission company are very keen to enter this space,” he said. Sterlite submitted bids for two projects in the U.S. this February, he said.
India is forecast to have 34 gigawatts of battery storage capacity by 2030, the country’s electricity power body Central Electricity Authority said in a report publicly released last month.
To contact the reporter on this story: Anindya Upadhyay in New Delhi at aupadhyay22@bloomberg.net
To contact the editors responsible for this story: Ramsey Al-Rikabi at ralrikabi@bloomberg.net, Aaron Clark
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