The FICCI Indian Power and Energy Storage Conference 2025, held in New Delhi, brought together policymakers, industry leaders, and financial institutions to discuss the future of India’s energy transition. The focus has shifted from generating power to ensuring a reliable supply of electricity around the clock. Bhupinder Singh Bhalla, former MNRE Secretary, emphasized the challenge of integrating non-fossil capacity into the grid without compromising stability or affordability. India aims to reach 500 GW of non-fossil capacity, but this will require significant energy storage capacity to ensure grid balance and reliability.
By 2030, peak power demand is expected to approach 300 GW, necessitating approximately 230 GWh of energy storage capacity. R. P. V. Prasad, Managing Director of Envision Energy India, noted that advancements in technology, such as falling battery prices and fast-charging ecosystems, are transforming storage into a core grid resource. However, he cautioned against ultra-low bidding practices and weak technical standards, stressing the need for robust frameworks.
The market structure and investments in energy storage were also discussed, with Ashish Mittal, Director of Energy and Commodities at CRISIL, highlighting the need for clear and stable regulatory frameworks to build long-term investor confidence. Ashok Sharma, Deputy Managing Director of State Bank of India, emphasized the importance of evolving financing models to reflect the unique risk profiles and long-term returns of storage projects.
The conference concluded that energy storage is no longer optional, but has become the backbone of India’s clean, resilient, and secure power future. The industry leaders and policymakers emphasized the need for a coordinated approach to address the challenges and opportunities in energy storage, ensuring a reliable and affordable supply of electricity to meet the country’s growing demands. As India continues to transition towards a low-carbon economy, the development of energy storage infrastructure will play a critical role in achieving its renewable energy targets and ensuring a sustainable energy future.