Mumbai: To further strengthen India’s renewable energy infrastructure, the International Finance Corporation (IFC) and IndiGrid have partnered to develop a 180 MW/360 MWh standalone battery energy storage system project in Gujarat. The project is designed to play a key role in supporting the state’s clean energy goals by enhancing grid stability and ensuring reliable power is available during peak demand, an official statement said today.

IFC committed INR4.6 billion (c.$55 million) in long-term financing to IndiGrid through a subscription to listed non-convertible debentures, with c.$38.5 million from IFC’s own account and c.$16.5 million in concessional support from the Clean Technology Fund (CTF), one of the multi-donor trust funds under the World Bank-hosted Climate Investment Funds framework.

Harsh Shah, Managing Director, IndiGrid, said, “Battery Energy Storage Systems are central to the future of energy in India. They bridge the intermittency of renewables, reduce fossil fuel dependency, and unlock flexible, reliable power delivery. With IFC’s support, we are proud to lead the deployment of one of India’s first and largest BESS assets in Gujarat. This project represents a strategic milestone in building next-generation infrastructure that is clean, resilient, and future-ready.”

Imad N Fakhoury, Regional Director for South Asia, IFC, said, “Expanding access to reliable, affordable electricity is central to development and IFC’s mission in emerging markets. Battery energy storage is critical for diversifying India’s energy mix and ensuring clean power is available when demand is highest. IndiGrid has been a trusted partner to IFC in advancing sustainable and inclusive infrastructure in India. Our latest investment supports Gujarat’s goal of achieving 100 GW of renewable capacity by 2030, and sets a replicable model for other states as they scale up next-generation commercially viable energy solutions.”

As per the statement, since 2023, IFC has aggregately extended a debit line of INR32.5 billion (c.$380 million) to IndiGrid. DeshGujarat