India has joined the battery energy storage systems (BESS) consortium, an initiative of the Global Leadership Council of the Global Energy Alliance for People and Planet (GEAPP), at the 2023 United Nations Climate Change Conference (COP28). India is at the forefront of nations participating in a joint initiative to achieve 5 GW of BESS commitments by the conclusion of 2024, through the BESS consortium.
In addition, GEAPP revealed that it will be expanding its BESS project in India. By 2026, the initiative seeks to accomplish 1 GW BESS target for distribution companies. A 20 MW/40 MWh was the first BESS project awarded to IndiGrid in Delhi. GEAPP seeks to offer subsidised debt financing for 70 per cent of the overall capital investment, along with providing technical assistance for the project. The execution introduces a novel approach, addressing the challenges faced by numerous comparable projects that have been hindered by elevated expenses and regulatory obstacles. GEAPP will persist in collaborating with discoms on an expansion strategy, aiming to reach the 200 MW target by delivering technical support and subsidised funding.
Resource partners such as the African Development Bank, the World Bank, Asian Development Bank, Inter-American Development Bank, Agence Française de Développement, German Agency for International Cooperation, RMI, Africa50, Masdar, Infinity Power, COP28 Presidency, AMEA Power, National Renewable Energy Laboratory, Net Zero World, and Sustainable Energy for All, will provide support to the pioneering nations (Barbados, Belize, Egypt, Ghana, Kenya, Malawi, Mauritania, Mozambique, Nigeria, Indonesia and Togo) of the BESS Consortium. Moreover, there is anticipation of additional partners and countries joining this collaboration.
