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IFC commits Rs 460 cr to IndiGrid to build India's largest battery energy storage project
Galaxy News
|July 05, 2025
IFC, a member of the World Bank Group, on Thursday committed Rs 460 crore to IndiGrid to build India’s largest standalone battery energy storage system project in Gujarat.
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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, a joint statement said.
The long-term financing of USD 55 million (about Rs 460 crore) will be through a subscription to listed nonconvertible debentures, with USD 38.5. million from IFC's own account and USD 16.5 million in concessional support from the Clean Technology Fund, one of the multi-donor trust funds under the World Bank-hosted Climate Investment Funds framework.
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