India approves $1.53B in viability gap funding for 92 GWh of grid storage
India's cabinet approved INR 14,500 crore (approximately $1.53 billion) in viability gap funding to support 92 GWh of grid-scale energy storage deployment by fiscal 2030-31, with a 40% domestic content requirement for battery projects — the largest single government storage incentive package India has ever announced.
- 92 GWh target by FY2031 — roughly 15 times India's current grid storage installed base
- 40% domestic content requirement creates a parallel manufacturing incentive alongside the deployment subsidy
- Viability gap funding fills the gap between market rates and storage project returns in India's regulated grid