American firm sees $50b opportunity in India's energy storage

AES sees battery storage systems could replace diesel-fueled power plants.

The CEO of American firm AES Corp. sees a potential investment opportunity of $50b in India’s battery storage facilities that could help integrate renewables into the grid, Bloomberg reports.

“We think India is going to be a big market for energy storage,” CEO Andres Gluski said in an interview. He spoke after AES completed the country’s first 10MW battery-storage system to support the grid in national capital New Delhi.

India’s goal to build 175GW of renewable energy by 2022 is seen as a big opportunity by AES to use battery storage to integrate fluctuating green power into the grid, as well as replacing diesel-fueled power plants.

Read the full report here.