September 6, 2023 8:12 PM

Government approves scheme for Viability Gap Funding for development of Battery Energy Storage Systems with an initial outlay of about Rs. 9,400 crore

The Government today approved the Scheme for Viability Gap Funding ( VGF ) for the development of Battery Energy Storage Systems ( BESS). Briefing media after the Cabinet meeting in New Delhi today, Information and Broadcasting Minister Anurag Singh Thakur said, the scheme envisages the development of four thousand Mega Watt hour of BESS projects by 2030-31, with the financial support of up to 40 percent of the capital cost as budgetary support. He said, it has an initial outlay of about 9,400 c...