To further strengthen India’s renewable energy infrastructure, IFC and IndiGrid have partnered to develop a 180 MW/360 MWh standalone Battery Energy Storage System (BESS) project in Gujarat. IFC committed INR4.6 billion (c.$55 million) in long-term financing to IndiGrid through a subscription to listed non-convertible debentures, with c.$38.5 million from IFC’s own account and c.$16.5 million in concessional support from the Climate Investment Funds’ Clean Technology Fund, a multilateral fund working exclusively through MDBs.
India’s power sector is undergoing a structural shift as the country advances toward its target of 500 GW of clean energy capacity by 2030. The increasing integration of solar and wind energy introduces new challenges for grid stability, peak load management, and dispatch reliability. Utility-scale battery storage is emerging as a critical solution to address to grid stability challenges, including peak load management and dispatch reliability, while enabling greater integration of solar and wind energy.
Commenting on the project, Harsh Shah, Managing Director, IndiGrid, said, “Battery Energy Storage Systems are central to the future of energy in India. They bridge the intermittency of renewables, reduce fossil fuel dependency, and unlock flexible, reliable power delivery. With IFC’s support, we are proud to lead the deployment of one of India’s first and largest BESS assets in Gujarat. This project represents a strategic milestone in building next-generation infrastructure that is clean, resilient, and future-ready.”
