![]() It also aims to reduce costs of storage, making it a viable option to manage peak power demand. The Union Cabinet said the VGF would be disbursed in five tranches linked with various stages of implementation of such projects. As part of the programme, the government will offer financial backing for up to 40% of the capital cost of BESS projects, amounting to 4,000 megawatt-hours (MWh) until 2030-31. In a boost for the renewable energy sector, the government approved a ₹3,760-crore viability gap fund (VGF) for battery energy storage systems (BESS) on Wednesday. Some companies, including Tata Power, Adani Green Energy, and JSW Energy, have already signed memorandums of understanding with certain states to ramp up PSP capacity. ![]() In PSPs, excess energy is used to pump water to an upper reservoir when power demand is low, and water is released to turn a turbine when demand rises. NHPC, Tata Power, Adani Green Energy and JSW Energy are among the companies that have proposed to build these PSPs, with capacity totalling up to 39 GW. Twitter.₹3.1 trillion: That is the potential value of investments proposed by contenders for pumped storage projects (PSPs) in the country, Mint reported. " Use the code "RestorativeBurst" to automatically level up by two levels.". " Thanks for sticking with us during our downtime and maintenance yesterday.". " Pictures of colleges and corresponding card sleeve codes". ![]()
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