GoodEnough Energy to invest INR 450 cr to set up 20GWh storage equipment factory by 2026

Source : PTI | Battery energy storage systems maker GoodEnough Energy will invest INR 450 crore for setting up a 20 GWh per annum capacity plant in Jammu & Kashmir by 2026. Presently, the company is in the process to make its plant operational by October this year with initial battery energy storage systems (BESS) manufacturing capacity of 7GWh per annum.

Talking to PTI on the sidelines of an event to unveil its BESS technology, founder of GoodEnough Energy Akash Kaushik said, “We have invested INR 160 crore so far to create a BESS manufacturing facility of 7GWh. It will be operational by October this year.”

He informed that the company has chalked out a plan to invest INR 450 crore for having a BESS manufacturing facility with total capacity of 20GWh per annum by 2026.

In its endeavour to create a fully integrated ecosystem, the Gigafactory will produce advanced battery energy storage systems, empowering various industries to reduce carbon emissions.

The company on Tuesday announced this largest Gigafactory in the presence of New & Renewable Energy Joint Secretary Dinesh Jagdale and Rahul Walawalkar, President, India Energy Storage Alliance.

Kaushik also said that BESS prices have improved considerably and now it is INR 3 per KWh/unit and is comparable with any other source of fossil-fuel based electricity.

He also stated that with its capacity expansion, the company aims to reduce a whopping 15 million tonnes of CO2 emissions by 2026 through the Gigafactory.

Each litre of diesel produces an average of 3 kg of CO2, considering two hours of daily backup operation of a 125KVA generator consuming 60 litres leading to an alarming 180 Kg of CO2 emission.

One electricity unit (kwh) from a Diesel generator or coal plant produces one kilogram of CO2.

GoodEnough Energy’s Gigafactory with an initial capacity of 7GWH annual storage aims to reduce over 5 Million tonnes of CO2 in a year, with 2 cycles every day.

This is equivalent to the Indian Railway’s annual carbon reduction target of 4 million tonnes.

GoodEnough Energy is India’s first and most advanced manufacturer of BESS, offering commercial, industrial, and institutional energy backup solutions with flexibility and modularity.