New Delhi, July 27 -- The Government on Monday said India will require investments of nearly Rs 4.78 lakh crore in battery and pumped storage projects by 2031-32 as it ramps up energy storage infrastructure to ensure grid stability and support the growing share of renewable energy in the country's power mix.

According to the Ministry of Power, the projected requirement for Battery Energy Storage Systems (BESS) is 47.24 GW/236 GWh by 2031-32, requiring an estimated investment of Rs 3.49 lakh crore. The projected requirement for Pumped Storage Plants (PSPs) during the same period is 26.69 GW/175 GWh, with an estimated investment of Rs 1.29 lakh crore.

The ministry said the National Electricity Plan (Generation), notified in May 2023, proj...