India, which is projected to have the world’s third-largest economy by 2030, is not only an emerging superpower, but also a sustainable one.
India Energy Storage Alliance (IESA) convened the India Energy Storage Week (IESW) 2023 on Wednesday in the nation’s capital in support of India’s ambitious net-zero carbon emission objective. Clean Energy experts and manufacturers from over 25 countries were in attendance. With a spectacular opening ceremony at Pragati Maidan in New Delhi, one of the world’s largest green energy expos, IESW 2023, kicked off a new era of renewable energy transition in India.
Advisor to the Prime Minister of India is Tarun Kapoor. Inaugurated IESW 2023 expo and spoke about the need for all sustainability and clean energy stakeholders to unite and support India in becoming a global leader in the transition to green energy.
New Delhi’s Pragati Maidan hosted IESW 2023’s spectacular opening ceremony.
The transition to electric vehicles, including two- and four-wheeled vehicles, necessitates large-scale storage solutions. We must be self-sufficient and manufacture everything in India, as well as invest in R&D to innovate and develop products that meet our needs and utilize indigenous materials.
In India, we already have a production-linked incentive (PLI) program for battery manufacturing. There could be a subsequent phase of the PLI program, and if necessary, we can consider additional support for battery manufacturing in the future. We expect that manufacturing will come to India, and if it does, the price will undoubtedly decrease. We must also secure manufacturing-required minerals and basic materials, such as lithium. Although India has limited lithium reserves at present, only 8% of the country has been explored. We are confident that if we continue to investigate, we will find lithium and other minerals.”
Vivek Bharadwaj, Secretary, Ministry of Mines, Vijayanand Samudrala, President – New Energy, Amararaja Batteries, Stephen Fernands, President, Customized Energy Solutions (CES), Anurag Tiwari, President – Industrial & Supply Chain, SAR Group, Nashid Chowdhury, Investment and Trade Commissioner, Government of Western Australia, Debi Prasad Dash, Executive Director, IESA, and Dr. Hanif Qu
Commenting on the occasion, Dr. Rahul Walawalkar, President of IESA, stated, “India is strongly committed to clean energy transition and aims high for the expansion of e-mobility and renewable energy. We have a wonderful opportunity to make India a global hub for manufacturing, R&D, and adoption of advanced energy storage, e-mobility, and green hydrogen technology in the future decades, thanks to the Prime Minister’s vision.
We still have a long way to go, but we are confident that India’s enormous capacity and ecosystem can contribute to this transition. And through IESA and IESW, we intend to provide a platform for collaboration, as all stakeholders must work together to build a robust ecosystem in order to make India a global centre.”
“The production of lithium-ion batteries is a crucial aspect of the energy transition, and India has the potential to become a global leader in this industry. Vikramithithya Gourineni, Executive Director – New Energy Business, Amara Raja Batteries, stated that with the right policies, investments, and collaborations, it is possible to create a robust Li-ion battery manufacturing ecosystem that will not only support the country’s transition to clean energy but also create employment opportunities and contribute to the economy.
More than 500 world-class organizations from over 25 countries, including the United Kingdom, the United States, the United Arab Emirates, Australia, China, Germany, Singapore, France, Italy, Israel, and Sri Lanka, and 60+ CXOs from the e-mobility and green hydrogen ecosystem, 100+ start-ups, 50+ women energy leaders, and 8+ ministries are participating in IESW 2023.
The energy storage business in India is expected to grow at a dizzying rate over the next few years.
Rakesh Malhotra, SAR Group, emphasizes the significant investment potential in the EV and energy storage sector in India. He says, “India’s energy storage market is poised to expand exponentially in the coming years, driven by the rising demand for electric vehicles and the integration of renewable energy. Therefore, investors have a tremendous opportunity to participate in the green energy revolution and contribute to the country’s sustainable future.”
IESW 2023 also witnessed the ratification of a number of MoUs, such as the MoU between IESA and Singapore Battery Consortium (SBC) and the MoU Exchange between IESA and The Electronics Sector Skills Council of India (ESSCI), among others.
After the opening session, a series of instructive and insightful sessions on advanced battery manufacturing, skill development round table, CXO round table, investment round table, and startup showcase were held. Various experts and industry leaders participated in the sessions and offered their insights on the most recent trends and technologies in the energy storage industry. With two more days of engaging sessions, exhibitions, and networking opportunities, the event promises to be a crucial forum for shaping the future of India’s transition to renewable energy.