India, Oct. 21 -- India is targeting 500 GW of non-fossil fuel-based power capacity by 2030, with energy storage expected to play a crucial role in integrating more renewable power into the grid. The Central Electricity Authority estimates that India will require 411.4 GWh of energy storage capacity by FY32, including 236.22 GWh from battery energy storage systems.

This shift towards reliable, round-the-clock green power could create opportunities for renewable energy developers such as ACME Solar and NTPC Green Energy. Both companies are expanding their battery storage capabilities and renewable portfolios, with Nomura expecting strong EBITDA growth through FY29. While ACME Solar is focusing on firm and dispatchable renewable energy pr...