The Asian Development Bank (ADB) and Tata Power Delhi Distribution Limited, the distribution arm of Tata Power Co Limited, have entered into an agreement to subscribe to non-convertible debentures for 1.5 billion Indian Rupees (equivalent to $18.2 million) to enhance Delhiâ€™s power distribution through grid enhancements, and a $2 million grant to partially finance the purchase and integration of a pilot 10MWh battery energy storage system (BESS).
The BESS is South Asiaâ€™s first grid-scaled energy storage project at the distribution transformer level. The grant to finance the BESS is provided by Goldman Sachs and Bloomberg Philanthropiesâ€™ Climate Innovation and Development Fund (CIDF) and administered by ADB.
In 2022 Indiaâ€™s Ministry of Power targeted battery storage capacity of 4% of total electricity consumption by 2030. To reach that goal, India would need a total battery energy storage capacity of 182 gigawatt-hours by 2030.