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IFC Partners with IndiGrid to Develop 180 MW/360 MWh Battery Storage Project in Gujarat

IFC and IndiGrid have joined forces to develop a 180 MW/360 MWh standalone battery energy storage system (BESS) in Gujarat, marking one of India’s largest utility-scale BESS deployments. The initiative aims to bolster grid stability and peak demand reliability, aligning with Gujarat’s renewable energy goal of 100 GW by 2030 and India’s broader clean energy target of 500 GW by the same year.

To support the project, IFC has committed INR 4.6 billion through listed non-convertible debentures, including ~$38.5 million from its own account since 2023.

Harsh Shah, Managing Director of IndiGrid, emphasized that battery storage is essential for overcoming renewable intermittency and achieving flexible, clean power delivery. IFC’s Regional Director for South Asia, Imad N Fakhoury, noted that the partnership not only supports Gujarat’s energy vision but also sets a replicable model for other Indian states. The BESS project is expected to play a critical role in India’s energy transition by ensuring dispatch reliability and reducing reliance on fossil fuels.