Gujarat to Host India's Largest Standalone Battery Energy Storage System with ₹460 Crore IFC Commitment to IndiGrid.

The International Finance Corporation (IFC), a member of the World Bank Group, has announced a significant commitment of ₹460 crore (approximately $55 million) in long-term financing to IndiGrid. This crucial investment will facilitate the construction of India's largest standalone Battery Energy Storage System (BESS), set to be located in Gujarat.

According to an official statement, this landmark project is poised to play a pivotal role in bolstering Gujarat's clean energy ambitions. By enhancing grid stability and ensuring a consistent and reliable power supply during periods of peak demand, the BESS will be instrumental in the state's transition to a more robust and sustainable energy infrastructure.

The financing structure involves IFC subscribing to listed non-convertible debentures. Of the total $55 million, $38.5 million will come directly from IFC's own account, with an additional $16.5 million in concessional support from the Clean Technology Fund (CTF). The CTF is one of the multi-donor trust funds operating under the World Bank-hosted Climate Investment Funds framework, underscoring the project's alignment with global climate goals.

Harsh Shah, Managing Director of IndiGrid, emphasized the transformative potential of BESS technology in India's energy landscape. "Battery Energy Storage Systems are central to the future of energy in India," Shah stated. "They bridge the intermittency of renewables, reduce fossil fuel dependency, and unlock flexible, reliable power delivery."

Shah further expressed IndiGrid's pride in pioneering such a significant project. "With IFC’s support, we are proud to lead the deployment of one of India’s first and largest BESS assets in Gujarat," he added. "This project represents a strategic milestone in building next-generation infrastructure that is clean, resilient, and future-ready."

The collaboration between IFC and IndiGrid marks a substantial step forward in India's journey towards a more sustainable and secure energy future, leveraging advanced storage solutions to integrate renewable energy more effectively into the national grid.