Candidate Analysis for Indian Energy Storage System

India has identified pumped-storage hydropower as a key element in achieving its ambitious renewable energy goals. According to the Central Electricity Authority, India has an estimated river pumped-storage hydropower potential of about 103 gigawatts.

The Ministry of Energy had come out with draft guidelines in April 2023, offering incentives such as exemptions from civil transaction tax, land concession rates and tax breaks to make PSP projects more financially attractive. The Central Electricity Authority has also implemented expedited approval mechanisms to speed up the permitting process for PSP projects.

As of July 2024, India has an installed PSP capacity of about 4.75 GW and about 44.5 GW of projects are in various stages of development. The CEA target in terms of capacity is 74 GW by 2032.