Nitin Gadkari Is Sold On the Future of Storage

Union Minister for Road Transport and Highway (MoRTH) Nitin Gadkari gave a ringing endorsement for the future of storage in India, while inaugurating the 8th edition of the India Energy Storage Week (IESA) in New Delhi on May 3. The event formally started on May 2^nd and is set to culminate on 6^th  May at Pragati Maidan & Hotel Lalit, New Delhi.

Gadkari and other key industry leaders discussed the future roadmap for India and propagate the India’s vision in becoming a global leader.

Speaking at the event, Gadkari, said, “We need storage to store renewable energy into battery storage.

Standardization of batteries can accelerate EV adoption; we also need standardization for battery energy storage system. Automobiles will be a vital industry in the coming years, and battery technology will be in high demand by 2030, bolstering the Make in India initiative. In the next five years, it is expected that all vehicles will be electric. I encourage everyone involved in the electric vehicle business to work together for the betterment of the country by developing innovative solutions for a clean and green future. India ESW is an excellent forum for all decision-makers to discuss India’s future potential.”

Dr. Rahul Walawalkar, MD, Customized Energy Solutions (CES) & President, IESA India, said , “India has emerged as a global leader in the green hydrogen and e-mobility sectors in recent years, and substantial efforts have been made to raise adoption rates. Because the future of e-mobility and its impact on the environment is a global concern, there is a significant need for appropriate e-mobility norms and regulations to enhance the ecosystem and make it a viable option for people.”

Say 1 on May 2 of IESA was started with Tech Tours held at the BRPL’s DT level BESS project and SCADA Control Centre to manage 6 BESS Projects at various DT Sub-stations, AES & Tata Power 10 MW- 10 MWh Energy Storage Project (by AES, Mitsubishi and Fluence Energy), Nexcharge – Tata Power Grid Connected Community Energy Storage project, Load balancing EV charging station pilot project at BYPL and Energy Storage Platform on Batteries (ESPOB) by DST- IIT Delhi to gain insights into the various energy storage and e-Mobility projects and understand the successful implementation of the solutions used in the industry. On the same day, the event also hosted various deep dive workshops on energy storage technologies, applications, finance modelling, session on challenges and methodologies around charging interfaces, energy access and microgrids and battery fire safety workshop.

Energy storage applications, the EV ecosystem, regulation and policy on electric transportation, manufacturing and R&D, stationary storage, and many more issues will be covered over the five-day flagship event.

With the growing renewable energy sector, demand for energy storage systems is expected to rise in coming  years. Therefore, in order to improve the efficiency of the power industry, the new trend known as energy storage has seen rapid growth. The energy storage industry is predicted to develop at a CAGR of around 24 percent. According to the India Energy Storage Alliance (IESA), the Indian EV industry would expand at a 36 percent compound annual growth rate (CAGR) % till the year 2026. During the forecast period, the EV battery market is expected to increase at a 30 percent CAGR during the same time period.