New Delhi, June 30 -- India is rapidly increasing its battery energy storage capacity, helping the power system meet higher electricity demand in the evenings, especially during heatwaves, according to a report by HSBC Global Investment Research.

The report said operational Battery Energy Storage System (BESS) capacity in India has reached 2.7 GW/7.5 GWh, with significant additions during May, as developers increasingly invest in storage projects to support renewable energy integration.

"Energy storage systems are increasingly contributing to cater to the evening peak demand, with BESS and PSP contributing as much as c4.5GW at the time of evening peak of c240GW at 22:45 on 2 June," the report said.

HSBC noted that India's storage pipel...