Latest news with #BESS
Time of India
12 hours ago
- Business
- Time of India
India to invest ₹13 trillion in transmission infra, ₹1.3 trillion in smart meters by 2035: Report
New Delhi: India will need an estimated investment of ₹65–70 trillion by 2035 to meet its projected electricity demand of over 4,000 TWh, according to a report by Omniscience Capital. The country's power generation capacity is expected to rise to 1,300–1,400 GW by 2035, requiring significant capital infusion across generation, transmission, distribution, and digital infrastructure. The report projects that solar and wind will drive India's energy transition with a combined investment of ₹34.5 trillion. Solar power alone is estimated to attract ₹23 trillion to expand capacity to 564 GW, while wind energy will need ₹11.5 trillion to reach 280 GW. Transmission and distribution infrastructure will also need heavy investments to support the grid's expansion. Transmission networks are projected to require ₹13 trillion in capital expenditure to support an additional 2.3 lakh circuit kilometres. Additionally, ₹1.3 trillion will be needed for the installation of 30 crore smart meters across the country by 2035. Renewables to account for 70per cent of capacity By 2035, renewable sources including solar and wind are expected to comprise 70per cent of India's installed power generation capacity, contributing 47per cent of total electricity generation. Solar capacity is projected to grow 5x from 2025 levels, while wind capacity is expected to grow 5.5x. According to the report, India will need to add approximately 889 GW of new power capacity from 2025 to 2035. This includes 458 GW of solar, 231 GW of wind, 108 GW of coal, 51 GW of large hydro, and 30 GW of nuclear. Coal's declining share, but dominant in generation While coal's share in installed capacity is projected to fall to 24per cent by 2035, it is still expected to account for 46per cent of electricity generation, producing 1,937 billion units out of the projected 4,250 billion units. This reflects its continuing role in base-load power supply. In contrast, solar is expected to generate 988 billion units and wind 615 billion units, contributing a combined 38per cent of total generation. Large hydro and nuclear are estimated to generate 341 and 263 billion units, respectively. Digital backbone and storage to support the grid The report highlights the role of Battery Energy Storage Systems (BESS) in improving plant load factors (PLFs) for renewables. By 2035, PLFs for solar and wind are expected to improve to 20per cent and 25per cent, respectively, from historical averages of 15per cent and 18per cent. The Ministry of Power has initiated the development of an India Energy Stack (IES), which aims to create a unified, secure digital public infrastructure for energy services. A 12-month proof-of-concept phase is expected to be launched in Mumbai and Delhi, followed by a national rollout. Smart metering to reduce AT&C losses Under the Revamped Distribution Sector Scheme (RDSS) , the government plans to install 30 crore smart meters by 2035, with an estimated capex of ₹1.3 trillion. This initiative is aimed at reducing aggregate technical and commercial (AT&C) losses to 12–15per cent across India.
Time of India
12 hours ago
- Business
- Time of India
Non-fossil power hits 50% of India's installed capacity; ₹4 lakh crore saved in 2024: Joshi
New Delhi: New Delhi: India's renewable energy capacity has exceeded 245 GW, comprising 116 GW of solar and 52 GW of wind power, Union Minister for New & Renewable Energy Pralhad Joshi said, highlighting the government's strategic push for clean energy transition. He stated that over 50 per cent of the country's installed power capacity now comes from non-fossil sources, five years ahead of its Nationally Determined Contribution (NDC) deadline. Addressing the Mercom India Renewables Summit in the national capital, the minister outlined five key government priorities—strengthened power purchase agreements (PPAs), robust grid and storage infrastructure, domestic manufacturing, land-use optimisation, and improved access to finance. According to Joshi, these reforms are aligned with India's 2030 target of 500 GW of non-fossil fuel-based power capacity. Citing a recent International Renewable Energy Agency (IRENA) report, he said that India saved nearly ₹4 lakh crore in 2024 through reduced fossil fuel imports and health-related costs, which includes $14.9 billion in fossil fuel savings, 410.9 million tonnes of CO₂ avoided, and $31.7 billion worth of air pollution and health-related benefits. Rooftop solar, BESS and green hydrogen push The Minister said that the government's rooftop solar initiative, PM Surya Ghar: Muft Bijli Yojana, has received over 58.7 lakh applications and led to 17.2 lakh installations so far. In parallel, a ₹5,400 crore Viability Gap Funding (VGF) scheme has been launched for 30 GWh of Battery Energy Storage Systems (BESS), projected to attract ₹33,000 crore in investments. He informed that a comprehensive transmission plan has been drawn up in coordination with the Ministry of Power, the Central Electricity Authority (CEA), the Central Transmission Utility (CTU), and POWERGRID for evacuating 500 GW of non-fossil power by 2030. PLI, ALMM and land-use reforms To boost domestic manufacturing, Joshi said that the ₹24,000 crore Production Linked Incentive (PLI) scheme is promoting Aatmanirbharta in solar and wind manufacturing. He also announced the expansion of the Approved List of Models and Manufacturers (ALMM), with List-II for solar PV cells set to be implemented from June 2026. The Ministry is encouraging innovation in land utilisation by supporting floating solar, canal-top solar, agrivoltaic installations, and deployment in tribal and remote areas. MSMEs and startups are being supported to scale clean energy innovations. Green hydrogen mission rollout Joshi said the National Green Hydrogen Mission is progressing with an outlay of ₹19,744 crore. So far, 3,000 MW of electrolyser manufacturing capacity has been allocated and over 8.6 lakh tonnes per annum of green hydrogen production approved. The minister said the sector continues to benefit from enabling policy initiatives to support its long-term sustainability.
Time of India
a day ago
- Business
- Time of India
Renewables helped India save Rs 4 lakh cr in fossil fuel, pollution-related costs in 2024: Pralhad Joshi
The installed capacity of renewables has helped the country save Rs 4 lakh crore in fossil fuel and pollution-related costs in 2024, Union Minister Pralhad Joshi said on Thursday. The Minister for New and Renewable Energy made the remarks while addressing Mercom Renewables Summit 2025 in the national capital. Explore courses from Top Institutes in Please select course: Select a Course Category Project Management Design Thinking Data Science PGDM Management MBA Degree Operations Management Public Policy Data Analytics Technology Data Science Product Management Artificial Intelligence Cybersecurity Others Digital Marketing MCA Finance others Leadership CXO Healthcare healthcare Skills you'll gain: Project Planning & Governance Agile Software Development Practices Project Management Tools & Software Techniques Scrum Framework Duration: 12 Weeks Indian School of Business Certificate Programme in IT Project Management Starts on Jun 20, 2024 Get Details India has already achieved 50 per cent of its installed power capacity from non-fossil fuel sources, five years ahead of schedule, Joshi said. "This is a historic milestone." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo The country's renewable energy capacity has crossed the 245-GW mark, of which over 116 GW is solar and 52 GW wind, the minister said. Citing a report of IRENA (International Renewable Energy Agency), Joshi said, "Rising installed capacity of renewables by India in 2024 helped save roughly Rs 4 lakh crore (more than USD 46 billion) in fossil fuel and pollution-related costs." Live Events He said over 58.7 lakh applications and 17.2 lakh completed installations under PM Surya Ghar: Muft Bijli Yojana, which is also the world's largest domestic rooftop solar initiative. India is moving ahead with its goal of 500 GW non-fossil capacity by 2030, Joshi said to the gathering of over 500, including industry executives, policymakers, and investors, government officials. The government is working on multidimensional approach to achieve the ambitious goal, he said. The government is working on strengthening power purchase agreements (PPAs) and has conducted zonal review meetings with several chief ministers and state DISCOMs on the issue, he said. Modernising the grid and enhancing storage, a viability gap funding scheme for 30 GWh of Battery Energy Storage Systems (BESS) has been approved. It will be supplementing the 13.2 GWh already in progress. This Rs 5,400-crore initiative is expected to mobilise Rs 33,000 crore in investments and meet the nation's BESS demand by 2028. Third, domestic manufacturing and innovation is being promoted through schemes like the PLI and ALMM initiative. "The Rs 24,000 crore production-linked incentive (PLI) scheme is enabling India to build Atma Nirbharta in solar and wind manufacturing, The Approved List of Models and Manufacturers (ALMM) List-II for solar PV cells will be implemented from June 2026," he said. The government is also working to facilitate land access and lastly ensuring financial stability and market confidence. On the Green Hydrogen Mission, he said incentives have already been awarded for 3,000 MW per annum of electrolyser manufacturing capacity. Over 8.6 lakh tonnes per annum of green hydrogen production capacity has been allocated. "With global dynamics shifting, India has a chance to take a much larger leadership role and seize greater market share," Raj Prabhu, CEO of US-based Mercom Capital Group, said.
Business Wire
a day ago
- Business
- Business Wire
Energy Vault Closes $18 Million Project Financing for 57 MW/114 MWh Cross Trails BESS Serving the Texas ERCOT Market
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Energy Vault Holdings Inc. (NYSE: NRGV) ('Energy Vault' or the 'Company'), a leader in sustainable, grid-scale energy storage solutions, today announced the successful close of $18 million in project financing for its Cross Trails battery energy storage system (BESS). The financing marks another milestone in the Company's execution of its 'Own & Operate' growth and asset management strategy, originally outlined during the May 2024 Investor and Analyst Day. In addition, the company expects to receive another $12+ million in Investment Tax Credit-related funds later this quarter via a previously signed ITC sale agreement. The 57 MW/114 MWh BESS was brought to commercial operation in June 2025, and is currently providing energy and ancillary services to meaningfully support renewable energy production and improve grid resiliency in the Electric Reliability Council of Texas (ERCOT) region. Energy Vault notably achieved mechanical completion of the Cross Trails BESS ahead of schedule, successfully meeting all construction milestones through effective project management and close collaboration among engineering, procurement, and construction teams. The project is supported by a 10-year offtake agreement with Gridmatic, which marked the first physically settled revenue floor contract to be signed for a BESS in ERCOT. The BESS leverages Energy Vault's fully integrated solution stack of hardware, software, and service offerings. Cross Trails also serves as the first deployment of Energy Vault's second-generation B-VAULT™ AC product, enabling Energy Vault to deliver the system quickly and at low cost while also providing higher levels of system availability in the ERCOT region. The system is equipped with Energy Vault's VaultOS™ Energy Management System to control, manage and optimize the BESS operations. "The successful financing of our Cross Trails BESS project represents another significant milestone in executing our 'Own & Operate' strategy, delivering strong returns that will generate predictable, high margin and recurring revenue streams," said Robert Piconi, Chairman and Chief Executive Officer of Energy Vault. "Following our recent Calistoga Resiliency Center project financing and the acquisition of the 125 MW/1 GWh Stoney Creek BESS in Australia, this latest financing close demonstrates our ability to attract premium financing partners while building a diversified portfolio of attractive energy storage assets across the globe. With an attractive mid-teen levered IRR and a 10-year offtake agreement in place, the Cross Trails BESS is another example of our commitment to creating long-term shareholder value through strategic energy storage asset ownership and operation in key growth markets." Today's announcement marks the second close of project financing for Energy Vault projects, coming on the heels of the successful close of $28 million in financing for the Company's Calistoga Resiliency Center project in California. The financing also follows Energy Vault's announced acquisition of the 125 MW/1,000 MWh Stoney Creek BESS in the Australian market, being developed in alignment with the Company's global 'Own & Operate' strategy. Together, the advancement of these projects follows through on initiatives first presented during Energy Vault's May 2024 Investor and Analyst Day, demonstrating the Company's ability to execute on its strategic vision while maximizing capital efficiency in its 'Own & Operate' strategy. Energy Vault continues to pursue a robust pipeline of projects in development under the Company's 'Own & Operate' strategy and long-term vision for generating predictable, recurring and high margin tolling revenue streams with the goal of delivering sustainable, long-term value to shareholders. This milestone reflects significant proactive interest from strategic partners and investors given attractive IRR economics, positioning Energy Vault for continued growth in the rapidly evolving energy storage asset infrastructure market. About Energy Vault Energy Vault ® develops, deploys and operates utility-scale energy storage solutions designed to transform the world's approach to sustainable energy storage. The Company's comprehensive offerings include proprietary battery, gravity and green hydrogen energy storage technologies supporting a variety of customer use cases delivering safe and reliable energy system dispatching and optimization. Each storage solution is supported by the Company's technology-agnostic energy management system software and integration platform. Unique to the industry, Energy Vault's innovative technology portfolio delivers customized short, long and multi-day/ultra-long duration energy storage solutions to help utilities, independent power producers, and large industrial energy users significantly reduce levelized energy costs while maintaining power reliability. Since 2024, Energy Vault has executed an 'Own & Operate' asset management strategy developed to generate predictable, recurring and high margin tolling revenue streams, positioning the Company for continued growth in the rapidly evolving energy storage asset infrastructure market. Please visit for more information. Forward-Looking Statements This press release includes forward-looking statements that reflect the Company's current views with respect to, among other things, the Company's operations and financial performance. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These statements often include words such as 'anticipate,' 'expect,' 'suggest,' 'plan,' 'believe,' 'intend,' 'project,' 'forecast,' 'estimates,' 'targets,' 'projections,' 'should,' 'could,' 'would,' 'may,' 'might,' 'will' and other similar expressions. We base these forward-looking statements or projections on our current expectations, plans, and assumptions, which we have made in light of our experience in our industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at the time. These forward-looking statements are based on our beliefs, assumptions, and expectations of future performance, taking into account the information currently available to us. These forward-looking statements are only predictions based upon our current expectations and projections about future events. These forward-looking statements involve significant risks and uncertainties that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including the failure to execute definitive agreements or close previously contracted tax credit transfers, changes in our strategy, expansion plans, customer opportunities, future operations, future financial position, estimated revenues and losses, projected costs, prospects and plans; the quickly changing international tariffs applicable to our imports and exports; the uncertainly of our awards, bookings and backlogs and developed pipeline equating to future revenue; the lack of assurance that non-binding letters of intent and other indication of interest can result in binding orders or sales; the timing of permits; the possibility of our products to be or alleged to be defective or experience other failures; the implementation, market acceptance and success of our business model and growth strategy; our ability to develop and maintain our brand and reputation; developments and projections relating to our business, our competitors, and industry; the ability of our suppliers to deliver necessary components or raw materials for construction of our energy storage systems in a timely manner; the impact of health epidemics, on our business and the actions we may take in response thereto; our expectations regarding our ability to obtain and maintain intellectual property protection and not infringe on the rights of others; expectations regarding the time during which we will be an emerging growth company under the JOBS Act; our future capital requirements and sources and uses of cash; the international nature of our operations and the impact of war or other hostilities on our business and global markets; our ability to obtain funding for our operations and future growth; our business, expansion plans and opportunities and other important factors discussed under the caption 'Risk Factors' in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 31 2025, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC's website at New risks emerge from time to time, and it is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Any forward-looking statement made by us in this press release speaks only as of the date of this press release and is expressly qualified in its entirety by the cautionary statements included in this press release. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable laws. You should not place undue reliance on our forward-looking statements.
Forbes
a day ago
- Science
- Forbes
DC Cable: The Overlooked Risk Of The $2 Trillion Solar Sector
Joern Hackbarth, CTO, Ampyr Solar Europe, leads design, procurement, construction, & asset management of utility-scale PV & BESS. Global solar photovoltaic (PV) capacity surpassed 2.2 TWp in 2024. That's over 2.2 trillion watts of generation capacity, equivalent to roughly $2 trillion in installed value. By comparison, this places the global solar base near the GDP of Russia or Canada, and above that of Spain. Despite the massive investment, solar modules are now priced as low as €0.08/Wp. This cost efficiency masks deeper challenges: as prices fall, safety and system integrity risks grow, especially on the DC side of the system. Solar DC cables, though just 1.2% of CAPEX, carry 100% of the energy and the exposure. Their reliability is the foundation of the system. And yet, this is often where engineering decisions are de-scoped or delegated without a full understanding of the risk. Why DC Is Inherently Riskier Than AC Solar cells generate direct current (DC), which is harder to isolate than alternating current (AC). AC crosses zero volts 50 or 60 times per second, naturally extinguishing faults. DC has no such zero crossing. When a fault occurs, current continues to flow if sunlight is present. DC faults don't clear themselves. They can ignite, arc or persist unnoticed, making disconnection and protection much more critical than in AC systems. The traditional protection logic designed for AC systems, such as fuses and circuit breakers, often cannot detect or react to low-current DC arc faults. The result is that dangerous conditions can exist silently until thermal damage, fire or insulation failure occurs. How Cable Topology Amplifies Risk Large-scale PV systems use a rule of thumb of 15 km of DC cable per MWp installed. With 2.2 TWp globally, that's an estimated 30 million kilometres of energised DC cable. Most of this is 6 mm² (about 10 AWG) and operates at higher than usual DC voltage with significant environmental exposure—exceeding the voltage used in railway DC traction systems and many data centre DC bus architectures. Each meter of that cable—on rooftops, in trenches, across mounting rails—is a potential ignition point if not properly protected, installed and maintained. And each failure can result in loss of yield, insurance claims or, even worse, a major fire. Overvoltage, Cold Weather And Fuse Limitations Tier 1 module N-type can be strung in series up to 28 units. At 25°C, 28 modules generate around 1480 VDC. In cold weather, voltage increases further due to the negative temperature coefficient, easily pushing systems over 1500 VDC. This overvoltage can cause thermal runaway, and most fuses are ineffective at low current faults. This places heavy reliance on insulation integrity and correct voltage margin planning. The inability of conventional protection to detect early-stage faults means that damage can accumulate slowly, particularly in sites with extreme temperature swings, fluctuating irradiance or poor connector management. Material Quality And Fire Prevention Electron-beam cross-linked (EBXL) insulation provides superior fire and tracking resistance. Unlike chemically cross-linked compounds, EBXL avoids degradation, prevents rodent attraction and withstands higher temperatures. Rodent attacks, insulation creep, UV degradation and thermal fatigue are real-world causes of DC arc faults. These are not rare events; they are daily risks across global solar farms. Fire classification matters (e.g., CPR Cca-rated cable or higher, self-extinguishing, low smoke, halogen-free) should be the minimum standard to protect assets such as inverters. Connector Mismatch And Mechanical Stress MC4 connectors must be precisely matched to cable geometry and crimped correctly. If thermal cycling or vibration loosens a connection, or if insulation swells from heat and moisture, the result can be a resistive arc fault. Incorrectly torqued glands, fluctuating insulation jackets or incompatible connector inserts lead to failure points. Yet these are often overlooked in procurement and installation. The visual inspection of a connector cannot reveal internal crimp deformation, oxidation or micro-movement. These issues only surface when it's too late, often during peak irradiance and load. Backfeed And Inverter Blind Spots Modern inverters allow up to 24 strings in parallel. That's 48 cables (positive and negative) per unit. If one string faults, current can backfeed from healthy strings, sustaining a fault even if the inverter shuts down. MPPT tracking does not eliminate the risk. In fact, it may mask it. Without module-level isolation or arc suppression, faults remain live if there's sun. This makes string cable layout and parallel current modelling critical. Uneven aging, partial shading or connector failure in just one string can affect the entire array, even during normal operation. Systemic Scale: NREL's 75 TWp Net Zero Forecast According to NREL, "The increasing acceptance of PV technology has prompted the experts to suggest that about 75 terawatts or more of globally deployed PV will be needed by 2050 to meet decarbonization goals." That implies over 1 billion kilometres of DC string cable. At this scale, even rare events become statistically frequent. Without system-level and module-level protection, the risks grow faster than the grid. As more projects come online, the density of installed DC cable increases exponentially. Executive Takeaway: DC Safety Is a Strategic Asset Risk DC cable is not a commodity. It is the circulatory system of the entire $2 trillion solar asset base and has a growing annual installation rate projected to exceed 500 GWp, with total deployment needing to reach 3 TWp per year to meet NREL's Net Zero scenarios. To mitigate risk: The future isn't just fossil-free—it's DC-heavy. In order to prevent risks, we need to ensure we build it with precision. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
