India to witness Rs 2,000-crore investment opportunities at IESW 2024 in energy storage, EV sector
India to witness Rs 2,000-crore investment opportunities at IESW 2024 in energy storage, EV sector
Investments to the tune of Rs 2,000 crore are expected to be coming in at the India Energy Storage Week (IESW), slated to begin on July 1, in the energy storage, electric vehicles (EV) and green hydrogen sector.
The event, which is being organised by India Energy Storage Alliance (IESA), is expected to announce establishment of over five new factories by energy storage and manufacturing companies. This includes Singapore-headquartered VFlowTech, which will announce the launch of the largest long-duration energy storage manufacturing facility (non-lithium battery) at Palwal, Haryana.
The tenth edition of IESW in New Delhi would witness participation from various government ministries including MNRE, power ministry, Ministry of Heavy Industries among others. The event is also expected to see participation from 150+ partners and exhibitors, and 1000+ global delegates from 30+ countries including Japan, Southern Korea, Germany, France, Norway, Singapore, Australia, the UK, the USA, and other countries.
IESW 2024 is also expected to witness signing of over 5 memorandum of understanding (MoUs) and partnership including an MoU between IESA and Powering Australia.
Additionally, three knowledge papers would be unveiled by government officials during the event which includes, “India’s roadmap for battery-grade graphite” by India Battery Manufacturing & Supply Chain Council (IBMSCC), “Battery Raw Materials Availability and Global Partnership” by Customized Energy Solutions and “Mobility Electrification Journey, Prospects and Outlook in India” by India Electric Mobility Council (IEMC).
Energy storage companies including Nash Energy, BatX Energies and Lohum would be present at the event. Nash Energy would showcase its indigenously produced Li-Ion battery cell, which is manufactured in India. BatX Energies would announce the opening of its battery recycling and materials extraction facility, HUB-1 at the event while Lohum would enter into next-gen 'Manganese-rich' Lithium-ion battery technology manufacturing, supported by an R&D grant from India's Ministry of Mines. Bharat Cell by Khusmanda Power also announced its entrance to BSES space.