November 10, 2026: India has approved a $1.5 billion (approximately Sh193 billion) scheme to develop 92 gigawatt-hours (GWh) of grid-scale energy storage capacity over the next five years, as the country seeks to strengthen energy security and accelerate its transition to renewable power.

The scheme, approved by Prime Minister Narendra Modi’s government, will support the development of new storage projects between the 2026-27 and 2030-31 financial years.

The planned capacity includes 60 GWh of pumped hydro storage, 30 GWh of battery storage and a further 2 GWh from emerging storage technologies.

Announcing the approval on X, Modi said the investment would improve electricity reliability, support greater integration of renewable energy and strengthen the country’s energy security.

“The Cabinet has approved a massive Rs 145 billion push to develop 92 GWh of energy storage capacity, supporting an estimated investment of almost 1000 billion,” he said.

“Truly, it is more reliable power, greater renewable energy integration and stronger energy security,” he added.

(Source: Capital.FM)