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India Energy Storage Week (IESW) 2024 is set to kick off on July 1, marking a significant investment surge of ₹2,000 crore. Supported by the Ministry of Heavy Industries and organized by the India Energy Storage Association (IESA), this event marks a significant milestone in India’s clean energy landscape. It is expected to gather over 1,000 companies, including 200 international players, highlighting the growing global interest in India’s energy storage market.
The event will showcase the launch of five gigafactories, emphasizing the country’s commitment to expanding battery manufacturing capacity. Key industry leaders, such as VFlowTech and Nash Energy, will unveil new technologies and production facilities focused on advanced battery systems, ranging from non-lithium flow batteries to lithium-ion cells. Meanwhile, initiatives in battery recycling and next-generation chemistries reflect India’s drive towards sustainability and circular economy practices.
IESW 2024 is also a platform for policy dialogue, with IESA urging reforms such as rationalizing GST and providing incentives for local manufacturing. These developments aim to create a robust ecosystem that supports innovation, job creation, and energy security.
Five New Gigafactories Set to Launch
At the heart of IESW 2024 is the unveiling of five large-scale gigafactories for battery and storage production. These factories are crucial for advancing India’s energy transition goals and enhancing its manufacturing capacity.
These new facilities are expected to reduce dependence on imports, create skilled jobs, and support the growing demand for batteries in electric vehicles and renewable energy grids. They will also play a central role in enabling affordable energy storage solutions and strengthening India’s clean energy supply chain.
VFlowTech Enters Indian Market
Singapore-based VFlowTech is entering India with its largest non-lithium, long-duration energy storage facility in Palwal, Haryana. This marks a significant step toward diversifying technology in the energy sector.
The plant will focus on vanadium redox flow battery (VRFB) systems, with a capacity of 100 MWh, and plans to scale even higher. Unlike lithium-based solutions, these batteries offer enhanced safety and longer lifespan, making them ideal for renewable energy integration. VFlowTech’s entry will expand India’s manufacturing base while introducing new battery chemistries that align with sustainability goals.
Nash Energy Expands Battery Cell Output
Nash Energy, a domestic battery manufacturer, will reveal its first locally produced lithium-ion battery cell during the event. With a plant already operating in Karnataka, the company is set for a significant expansion. It currently holds a 600 MWh production capacity and aims to scale up to 1.5 GWh. The focus is on LFP (lithium iron phosphate) cylindrical 32140 format cells, which are considered more stable and safe for EV applications.
Cell production is expected to commence next month, marking a significant milestone in India’s efforts to achieve self-reliance in battery cell manufacturing.
BatX Energies Unveils HUB-1
BatX Energies, a leading battery recycling firm, is launching its new recycling and extraction facility named HUB-1. The facility will handle all types of battery chemistries, supporting India’s shift toward a circular economy.
The plant has a capacity of 2,500 metric tons per year and will feature a 10 MW battery refurbishing unit, a material extraction system, and an in-house research lab. Funded by the Ministry of Heavy Industries, HUB-1 will also support large-scale battery reuse and resource recovery. This initiative is crucial in minimizing battery waste and creating sustainable value chains in the EV ecosystem.
Lohum to Innovate With Manganese-Rich Batteries
Battery recycling company Lohum is advancing into manganese-rich lithium-ion battery technology. This innovation is supported by the Ministry of Mines, with a focus on developing safer and more efficient alternatives.
Manganese-rich cells promise greater thermal stability and a reduced environmental footprint. These batteries also lower dependency on cobalt, which is expensive and scarce.
Lohum’s shift into advanced battery chemistries signals a turning point in India’s ambition to lead global battery innovation through localized R&D and manufacturing.
Bharat Cell Plans New Energy Storage Facility
Kushmanda Power’s Bharat Cell is joining the Battery Storage and Energy Solutions (BSES) space with a significant manufacturing announcement at IESW. The company will launch a 2 GWh facility that aims to support grid-scale storage.
This setup will cater to India’s growing need for integrating renewable energy, particularly for solar and wind projects. With demand rising across various industries and utilities, large-scale BSES systems are crucial for maintaining a stable and efficient energy grid. Bharat Cell’s entry will add much-needed domestic capacity to India’s long-term energy storage infrastructure.
IESA Calls for Policy Changes to Power Growth
The India Energy Storage Association has voiced strong policy recommendations ahead of the FY25 Union Budget. Their main concerns center around tax structure and support for component manufacturing.
GST Reform Proposals
IESA has raised concerns about inconsistent GST rates:
- Li-ion batteries attract 18% GST.
- Energy storage systems are subject to a 28% GST.
- EVs are taxed at just 5%
- Battery swapping and charging services are subject to a 28% GST.
The association urges GST alignment to support fair growth across all segments of the clean energy chain.
Push for PLI Scheme and Safety Framework
To further local manufacturing, IESA recommends expanding the Production-Linked Incentive (PLI) scheme. It seeks inclusion for battery components such as:
- Cathodes and anodes
- Electrolytes and adhesives
- Less-attractive but essential materials like aluminum
Additionally, IESA calls for a national testing and deployment framework. This would encompass product safety, installation, and maintenance guidelines to prevent market disruptions and foster trust in new energy systems.
FAQ’s
What is the aim of India Energy Storage Week 2024?
It aims to boost innovation, investment, and infrastructure in energy storage, electric vehicles (EVs), and hydrogen, with significant participation from both global and local stakeholders.
How will VFlowTech impact India’s energy sector?
VFlowTech introduces non-lithium battery tech with long-duration storage capacity, adding diversity and safety to India’s energy mix.
What is Nash Energy producing?
Nash Energy is producing lithium iron phosphate cylindrical cells and expanding production to meet EV battery demands.
Why is BatX’s HUB-1 facility important?
It supports battery recycling, refurbishing, and material extraction, reducing waste and strengthening India’s battery supply chain.
What policies is IESA demanding?
IESA is requesting GST rationalization, PLI for battery components, and national safety standards for the deployment and operation of batteries.
Conclusion
India Energy Storage Week 2024 is driving transformative changes in clean energy through new gigafactories, innovative battery technologies, and breakthrough recycling advancements. Key companies are scaling up their domestic capabilities, while IESA advocates for GST reform, safety standards, and incentives for local production. These developments position India for energy leadership, paving the way for a resilient and self-sufficient green future.
