India’s renewable vitality sector is poised for a significant funding surge, with projections exceeding $250 billion by 2030. Of this, photo voltaic photovoltaic (PV) tasks are anticipated to draw round $15.5 billion, whereas battery manufacturing may see inflows of ~$2.7 billion, underscoring the nation’s accelerating clear vitality transition.
To boost grid reliability and vitality storage capability, the federal government has launched a Rs. 5,400 crore Viability Hole Funding (VGF) scheme for the event of 30 GWh of Battery Power Storage Techniques (BESS). This initiative is projected to attract investments of almost Rs. 33,000 crore and play a crucial position in supporting large-scale renewable vitality integration.
In an additional enhance to renewable infrastructure, the Ministry of New and Renewable Power (MNRE) has proposed establishing 13,000 MW of renewable vitality capability coupled with a 12,000 MWh BESS challenge in Ladakh. On 18th October 2023, the Cupboard Committee on Financial Affairs (CCEA) accepted the development of an Inter-State Transmission System (ISTS) to allow environment friendly energy evacuation and nationwide grid integration, marking a major step towards harnessing Ladakh’s renewable vitality potential.
Following are just a few corporations with capex plans within the BESS ecosystem:
With a market cap of Rs. 96,905 crores, the inventory moved down by round 2 p.c on BSE to shut within the pink at Rs. 3,368.95 on Tuesday. In Q2 FY26, the corporate introduced a complete capex plan exceeding Rs. 25,000 crore. The corporate at present has an put in module capability of ~18.7 GW and a cell manufacturing capability of 5.4 GW, supported by a sturdy order e-book of round Rs. 47,000 crore.
On 1st October 2025, the corporate’s Board accepted an extra capex of ~Rs. 8,175 crore to additional improve manufacturing capacities throughout key segments. This consists of increasing Storage Cell and Battery Power Storage System (BESS) capability from 3.5 GWh to twenty GWh (Rs. 8,000 crore), Electrolyser capability from 300 MW to 1 GW (Rs. 125 crore), and Inverter capability from 3 GW to 4 GW (Rs. 50 crore).
The corporate’s first part of its 3.5 GWh battery manufacturing challenge is already underneath building and can start with meeting operations, adopted quickly by cell manufacturing. Business manufacturing for Section 1 is anticipated within the subsequent monetary 12 months, with Section 2 commencing inside 12 months thereafter. By FY28, each phases – together with pack and cell strains – are anticipated to be totally operational.
Waaree Energies Restricted is India’s largest photo voltaic module producer and main renewable vitality firm. The corporate presents a variety of photo voltaic options, together with panel manufacturing, EPC providers, challenge growth, and rooftop photo voltaic techniques.
With a market cap of Rs. 19.91 lakh crores, the inventory moved down by round 1 p.c on BSE to shut within the pink at Rs. 1,471.85 on Tuesday. RIL is making regular progress towards its bold clear vitality objectives, which embrace establishing 20 GWp of photo voltaic PV manufacturing capability and a 100 GWh battery giga-factory. The corporate has achieved important milestones within the building and engineering phases of its Battery Power Storage giga-factory at Jamnagar, with 40 GWh of producing capability at present underneath speedy growth.
As soon as operational, the services in Jamnagar will allow the corporate to provide round the clock renewable energy, leveraging each in-house photo voltaic PV modules and battery vitality storage techniques.
The corporate is establishing a battery giga-factory, scheduled to be operational by 2026, to fabricate battery chemical compounds, cells, packs, and containerised vitality storage options, together with a battery recycling facility. The corporate goals to provide Lithium Iron Phosphate (LFP)-based batteries at globally aggressive lifecycle prices and is actively fast-tracking the commercialisation of sodium-ion battery expertise.
Additional, in 2023, the corporate dedicated Rs. 60,000 crore funding in direction of developing world-scale, built-in services to assist this ecosystem. These embrace a completely built-in photo voltaic photovoltaic manufacturing advanced, superior vitality storage techniques for cell and battery pack manufacturing, electrolyser manufacturing facility, energy electronics and semiconductor growth, primary and auxiliary materials manufacturing, and devoted R&D services for all New Power applied sciences.
With a market cap of Rs. 11,180 crores, the inventory moved down by round 1 p.c on BSE to shut within the pink at Rs. 579.35 on Tuesday. HEG Restricted acknowledged that its subsidiary, HEG Greentech, is at present establishing a 20,000-ton anode manufacturing plant, which is anticipated to grow to be operational by March 2027, with income era commencing thereafter.
HEG Restricted has outlined a complete capex plan of Rs. 1,800-1,900 crore for its 20,000-ton capability growth challenge. Of this, the corporate has already infused Rs. 750 crore as fairness, whereas the remaining quantity might be financed by way of a mixture of inner accruals and debt, with monetary closure at present underway.
The growth, anticipated to be accomplished over the following two to a few years, might be funded in a phased method, leveraging HEG’s sturdy money era capabilities. The corporate anticipates a money outflow of roughly Rs. 1,000 crore in direction of capex, protecting each anode and graphite tasks, throughout the present and following monetary 12 months.
At current, HEG Greentech derives income from two key enterprise verticals – its hydropower property in Himachal Pradesh and its battery subsidiary, RePlus. Collectively, these companies are projected to ship income of Rs. 500-600 crore and EBITDA of Rs. 200-225 crore in FY26.
The corporate additional indicated that different tasks underneath the HEG Greentech platform are nonetheless within the growth part and are anticipated to start operations by FY28, at which level a extra substantial improve in income and EBITDA contribution is anticipated.
With a market cap of Rs. 1.75 lakh crores, the inventory moved down by round 2 p.c on BSE to shut within the pink at Rs. 1,085.9 on Tuesday. Focusing on a 5 gigawatt (GW) capability addition throughout FY26, Adani Inexperienced Power Ltd mentioned it expects to incur a capital expenditure of an estimated Rs. 31,000 crore throughout the ongoing fiscal. It is kind of totally funded by debt and fairness.
The corporate acknowledged that this funding is sort of totally funded by way of a mixture of debt and fairness, reflecting a balanced and well-structured monetary method to assist its ongoing growth in India’s renewable vitality sector.
Written by Shivani Singh
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