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					</table><p><a href="https://goodenough.energy/" target="_blank" rel="noopener">GoodEnough Energy</a>, a battery energy storage systems (BESS) manufacturer, said it will open India&#8217;s largest BESS gigafactory with 7 GWh capacity in Jammu &amp; Kashmir. The gigafactory is expected to commence operations in October 2024, with plans to scale up the capacity to 20 GWh by 2026.</p>
<p>The Greater Noida-based company has committed an investment of ₹4.50 billion (~$54 million) into the state-of-the-art facility. GoodEnough Energy aims for the gigafactory to support India&#8217;s net-zero emissions goals by reducing over 5 million tonnes of CO2 annually.</p>
<p>&#8220;The electricity industry is transforming, creating a growing need for clean, reliable, and affordable power solutions,&#8221; said Akash Kaushik, Founder of GoodEnough Energy. &#8221; With India’s largest and state-of-the-art BESS Gigafactory in J&amp;K, we are focusing on developing indigenous BESS technologies with global competence and cutting-edge features.&#8221;</p>
<p>In addition to its industrial applications, the factory&#8217;s BESS offerings will bolster India&#8217;s expanding EV charging infrastructure by enabling fast charging in areas with weak grid access, the company said. The solutions will allow to store energy during off-peak hours to reduce costs.</p>
<p>The gigafactory will create over 100 new supplier and vendor opportunities for small and medium enterprises and boost job creation in the Jammu &amp; Kashmir region, according to the company. At the full 20 GWh scale, GoodEnough Energy estimates its battery storage capacity could reduce 15 million tonnes of CO2 emissions annually by 2026.</p>
<p>The Ministry of Power today <a href="https://www.mercomindia.com/viability-gap-funding-guidelines-battery-storage" target="_blank" rel="noopener">issued</a> the operational guidelines for the ₹94 billion (~$1.1 billion) program to provide viability gap funding of up to 40% to develop 4,000 MWh of BESS capacity across the country.</p>
<p>A recent auction <a href="https://www.mercomindia.com/gensol-indigrid-guvnls-bess-auction-record-low-tariffs" target="_blank" rel="noopener">conducted</a> by the Gujarat Urja Vikas Nigam to set up pilot projects of 250 MW/500 MWh standalone BESS recorded the lowest tariff ₹448,996 (~$5,424)/MW/month as battery prices continue to drop globally.</p>
<p>The global venture capital funding in the energy storage sector in 2023 <a href="https://www.mercomindia.com/energy-storage-record-vc-funding-2023" target="_blank" rel="noopener">reached</a> a record $9.2 billion, a 59% year-over-year increase from $5.8 billion, according to a Mercom Capital Group report.</p>


Jammu and Kashmir to Host India’s Largest Battery Gigafactory at 7 GWh

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