Mumbai, Sept. 8 -- India's energy storage requirement is expected to rise to around 411 GWh by FY32 from around 54 GWh currently, requiring investments of more than Rs 4 lakh crore over the next six years, CareEdge Ratings said in a report on Tuesday.

The rating agency said India's power sector is moving from the challenge of adding renewable capacity to ensuring that renewable energy can be effectively integrated into the grid, making energy storage increasingly critical.

Non-fossil sources accounted for 50 per cent of installed power capacity, but contributed only around 29 per cent of electricity generation, reflecting the intermittent nature and lower plant load factors of renewable sources, CareEdge Ratings said.

The growing share...