PHOTO
Image used for illustrative purposes. FILE PHOTO: People are seen on the manufacturing floor at the opening of a Mercedes-Benz electric vehicle Battery Factory, marking one of only seven locations producing batteries for their fully electric Mercedes-EQ models, in Woodstock, Alabama, U.S., March 15, 2022. REUTERS/Elijah Nouvelage/File Photo
India will spend 37.6 billion rupees ($452 million) on viability gap funding for battery energy storage in a bid to increase renewable energy capacity, the country's information minister said on Wednesday.
The programme will support battery energy storage capacity of 4000 mega-watts hours, to be developed by 2030-31, Anurag Thakur said, adding that the government will offer incentives worth up to 40% of capital costs to companies setting up manufacturing units. ($1 = 83.1573 Indian rupees) (Reporting by Shivam Patel in New Delhi; editing by Christina Fincher)