Keynote Address
Strategic Pathways for ESS Deployment Through Smart Policies and Incentives
India’s energy storage landscape is experiencing unprecedented momentum, with Q1 2025 alone witnessing tenders for 9.5GW of utility-scale Energy Storage Systems (ESS) – surpassing the entire capacity tendered throughout 2024. Notably, standalone systems account for nearly two-thirds (64%) of these tenders, signaling a significant shift in deployment strategy. The government’s expanded Viability Gap Funding (VGF) scheme has emerged as a critical catalyst for this growth. Following the substantial decline in battery prices, the scheme has dramatically increased its support for Battery Energy Storage Systems (BESS) from an initial 4,000 MWh to an ambitious 13,200 MWh. This expansion offers developers up to 30% capital cost subsidy, capped at ₹4.6 million per MWh, fundamentally transforming project economics across the sector.
- How are recent policy updates supporting or slowing BESS adoption in India?
- What are the current gaps in India’s ESS tendering process and how can they be addressed?
- Are government incentives aligned with long-duration and short-duration storage needs?
- How can India structure tariffs and subsidies to compete globally?
Speaker:
Reji Kumar Pillai, President, India Smart Grid Forum
Reji Kumar Pillai,
President,
India Smart Grid Forum
How India Can be the Next Global Supplier Hub?
The energy storage landscape is undergoing a dramatic transformation, with battery prices plummeting 31% between 2022 and 2024. This steep decline is rapidly enhancing the economic viability of Battery Energy Storage Systems (BESS), with forecasts indicating further cost reductions from $95/kWh in FY 2025 to $68/kWh by FY 2030. Particularly noteworthy is the lithium-ion battery segment, where pack prices experienced their most significant annual decrease since 2017, falling 20% to reach $115/kWh in 2024.
As this cost revolution unfolds, it creates both opportunities and strategic imperatives for India’s emerging battery manufacturing ecosystem.
- What does India need to do to match China’s battery supply chain dominance?
- How will US tariffs and Inflation Reduction Act policies impact Indian export potential?
- What are the infrastructure gaps India must close to become a reliable exporter?
- How are CXOs planning to localize manufacturing while maintaining global quality standards?
- What government support is needed to attract global anchor clients?
Speakers:
Ranjit Khompi, VP, Battery & Energy Storage, Reliance Industries
Krishnendu Rath, Head of Strategy Product and program management- Renewable Energy and Energy storage solution, Waaree Group
Ranjit Khompi,
VP, Battery & Energy Storage,
Reliance Industries
Krishnendu Rath,
Head of Strategy Product and program management- Renewable Energy and Energy storage solution,
Waaree Group
SolaX Presentation
India’s Energy Storage Market: Deployment Trends, Barriers & Growth Forecasts
India’s energy storage sector is transitioning from pilot projects to large-scale commercial deployment, driven by the rapid rise of renewable energy and evolving grid requirements. How far along is the market in terms of installed capacity, pipeline projects, and regulatory readiness?
- With standalone storage systems making up 64% of utility-scale tenders in Q1 2025 (6.1GW), what’s driving the shift away from hybrid models, and what does this mean for project economics, grid integration, and investment strategies?
- How much energy storage has been deployed in India to date, and how does that compare with announced targets and global benchmarks?
- What are the key drivers and barriers influencing project deployment across states and use cases (e.g., utility-scale, C&I, behind-the-meter)?
- Which tenders or state-level programs are setting the pace for adoption, and what lessons can be learned?
- What are the forecasts for storage deployment through 2030 in terms of GWh and investment?
- How is India positioned competitively on the global map of energy storage deployment, and what are the untapped opportunities?
Speaker:
Gawthaw Gopi, Business Development & Commercial, Azure Power
Gawthaw Gopi,
Business Development & Commercial,
Azure Power
Lunch Networking Break
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The Economic Breakthrough in BESS Tariff Structures
Tariffs have plummeted from ₹1.08 million (~$12,570)/MW/month in 2022 to a mere ₹221,000 (~$2,550)/MW/month in recent tenders. This precipitous 40% decline compared to non-VGF projects represents not just a pricing adjustment but a fundamental market realignment that could accelerate India’s energy transition timeline. Reduced import duties create more favourable CAPEX environment, potentially unlocking a new wave of investment in a sector previously constrained by economic viability concerns.
- How have global battery supply chain developments contributed to the tariff reductions?
- With CAPEX requirements significantly reduced, what new financing models are emerging?
- How do India’s current BESS tariffs compare globally, and what does this mean for the country’s position in the international energy storage market?
- What technologies are winning in this new price environment?
- What is your forecast for BESS tariffs over the next 3-5 years? Will we see continued declines or stabilization?
Use Case of Batteries – Energy Storage for Industrial Applications
- How are data centers and IT parks integrating battery storage to ensure uptime?
- What are the unique needs of industrial offtakers compared to utilities?
- Can commercial and industrial (C&I) users aggregate demand to make storage cost-competitive?
- Which industrial sectors are most prepared to adopt behind-the-meter storage?
- What models can drive adoption among small and mid-sized manufacturers?
- What’s the ROI outlook for battery deployment in process-heavy industries?
Speaker:
Ana Gorgyan, Director, Independent Power Corporation
Ana Gorgyan,
Director,
Independent Power Corporation
Afternoon Networking Break
2032 Scenario Planning Workshop: Building a Regional Supply Chain for Energy Storage in Asia
Six Tables, Six Scenarios, Your Solutions
In this interactive session, delegates will be grouped and assigned one of six future scenarios shaping Asia’s role in the global energy storage supply chain. Each group will analyze the scenario and design a strategic response- covering local manufacturing, trade policies, materials security, and technology choices. Groups will then present back to the room, offering insight into how the region can remain resilient across multiple possible futures.
Group Output- Each group answers:
- Your 2030 Vision: What does your country/region’s battery supply chain look like in this future?
- Top 3 Actions: What must your government or industry do now to prepare?
- Key Partners: Who do you need on your side (local, regional, or global)?
Scenario 1- Resource Crunch in India
Global prices for lithium, nickel, and cobalt have spiked. New environmental regulations have slowed mining permits, and material nationalism is rising. Indonesia has restricted nickel exports; Australia is prioritizing domestic supply.
Challenge: How can your country secure reliable, ethical raw material access? What’s the backup plan if prices don’t stabilize?
Scenario 2- Oversupply Shock
Gigafactories across Asia are running at 60% capacity. Regional competition has driven prices down, but many manufacturers are now struggling to survive. Margins are razor-thin and innovation is stagnating.
Challenge: How can your company differentiate? Should you consolidate, innovate, or shift focus to services, recycling, or next-gen chemistries?
Scenario 3- Local Content Laws & Regional Protectionism
New “Made-in-Asia” mandates require BESS developers to source 60–80% of battery components locally. Meanwhile, India, Vietnam, and Thailand have different compliance frameworks—fragmenting the regional market.
Challenge: Map out a localization plan: which parts of the value chain will you prioritize for domestic development, and what alliances do you need to build?
Scenario 4- The Tech Disruption (Sodium-ion & Flow Break Through)
Sodium-ion and iron-air technologies have become cost-competitive with lithium-ion for long-duration storage. But patents are held by only a few firms, mostly in China and Europe.
Challenge: Do you license, build your own tech, or leapfrog with local innovation? What R&D, skills, and investment shifts are required?
Scenario 5- Carbon Border Taxes Reshape Exports
The EU and U.S. now impose carbon tariffs on imported batteries with high upstream emissions. Asian manufacturers must prove full lifecycle carbon performance to remain competitive.
Challenge: Design a “green supply chain” strategy: how do you decarbonize your supply chain quickly and credibly to maintain export access?
Scenario 6
China has redirected 40% of its battery production to domestic use and Belt & Road markets, tightening exports to Southeast Asia. This has caused a regional BESS shortage and raised project costs.
Challenge: Can your region fill the gap? What manufacturing, storage, and policy strategies must be accelerated to reduce reliance on exported resources?
Keynote Address
Financing Models for Battery Energy Storage Projects
The Indian Battery Energy Storage System (BESS) market stands at the cusp of extraordinary growth, with projections indicating an expansion from ₹650 billion (USD 7.8 billion) in 2024 to a remarkable ₹2.67 trillion (USD 32 billion) by 2030. This represents a robust Compound Annual Growth Rate (CAGR) of 27% during the 2025-2030 period, creating unprecedented opportunities for investors, developers, and financial institutions across the energy storage value chain. As this market quadruples in size over the next six years, innovative financing structures will be essential to unlock capital at scale and accelerate deployment across utility, commercial, and industrial applications. The evolution of these financial mechanisms will fundamentally shape India’s energy transition landscape and determine which stakeholders capture value in this rapidly expanding sector.
- What are the dominant financial models emerging in India for BESS?
- How can debt providers be educated on ESS revenue models?
- What are realistic expectations for revenue stacking in the Indian market?
- How can concessional finance accelerate early projects?
- Are SPVs or leasing models better suited for the Indian context?
Speakers:
Mohammed Shoeb Ali, Co-founder and Managing Partner, Transition VC
Ishan Purohit, Energy Specialist, IFC
Nidhin Thomas, Investment Banking- Infrastructure, Renewables & Industrials, JM Financial
Rushikant Shastri, Vice President, State Bank of India
Mohammed Shoeb Ali,
Co-founder and Managing Partner,
Transition VC
Ishan Purohit,
Energy Specialist,
IFC
Nidhin Thomas,
Investment Banking- Infrastructure, Renewables & Industrials,
JM Financial
Rushikant Shastri,
Vice President,
State Bank of India
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Borrow, Buy, Build: BESS Deployment Challenges
- What are the key considerations when choosing between borrowing, buying, or building BESS assets?
- How do land acquisition and permitting affect deployment timelines in India?
- What role should EPCs play in long-term asset ownership models?
- How do grid integration challenges vary across Indian states?
- How can developers manage evolving technology risk during long-term contracts?
Global Battery Supply Chains: How Long Does It Take to Localize?
With supply chain security and domestic manufacturing becoming strategic imperatives, nations around the world are racing to establish local battery supply ecosystems. This panel will compare how long it has taken leading markets such as China, the U.S., and Europe, to build domestic capacity across mining, cell manufacturing, and recycling. What lessons can India draw from their experiences, and what unique pathways can the country carve out to reduce dependence on imports and become a global battery hub?
- How long did it take countries like China, the U.S., and Germany to localize key segments of their battery supply chain—and what were the enablers?
- What policy levers (e.g., subsidies, tariffs, joint ventures) have proven most effective in accelerating domestic manufacturing?
- How can India balance speed and scale while ensuring quality and sustainability in its battery supply chain?
- What role do public-private partnerships and foreign investments play in fast-tracking supply chain development?
- What critical raw materials or processing capabilities should India prioritize to reduce external dependencies?
Lunch Networking Break
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When is the ‘Right’ Time to Enter the Energy Storage Market?
- Is India’s BESS market already saturated for early movers?
- How much will CAPEX/OPEX fall in the next 5 years—and should that affect timing?
- Can first movers establish strategic partnerships that late entrants can’t?
- How can companies manage risks of regulatory uncertainty while entering early?
- What technologies should developers monitor before making large-scale entry decisions?
Speaker:
Arun Tripathi, Director and CEO - Renewable Business, Enrich Energy
Arun Tripathi,
Director and CEO - Renewable Business,
Enrich Energy
Peak Shaving vs Fast Response: Aligning Battery Capabilities with India’s Renewable Needs
How effectively can the batteries and other energy storage systems originally designed for peak shaving also serve real-time applications like demand-side management (DSM) or frequency response?
- Can one battery system serve both peak shaving and fast-response DSM without compromising lifecycle or cost?
- How do lithium-ion and alternative chemistries perform under India’s varied climatic conditions, from coastal humidity to desert heat?
- Which storage technologies are best suited for long-duration balancing vs. short-term grid response in the Indian context?
- What are the key innovations in thermal management and BMS to extend battery life and improve safety?
- How can hybrid systems be optimized for multi-service functionality on the grid?
Speakers:
Ana Gorgyan, Director, Independent Power Corporation
Sourav Das, Vice President - Corporate Communication, Sembcorp Industries
Ana Gorgyan,
Director,
Independent Power Corporation
Sourav Das,
Vice President - Corporate Communication,
Sembcorp Industries
Afternoon Networking Break
Retaining Today’s Leaders and Building the Next Generation of Energy Storage Talent
How can companies, universities, and policymakers can collaborate to develop a robust talent pipeline?
- What are the most urgent skill gaps in India’s energy storage industry today?
- How can academia and industry collaborate to align technical education with real-world ESS needs?
- What role can policy and incentives play in supporting workforce development for energy storage?
- How are companies attracting and retaining top talent in a competitive global market?
- What future roles or expertise will emerge as energy storage technologies evolve (e.g., AI, cybersecurity, hybrid systems)?
Speaker:
Sachin Kulkarni, Engineering AVP Wind, Inox Wind
Sachin Kulkarni,
Engineering AVP Wind,
Inox Wind
Final Remarks
End of Conference