PM Modi-Biden nod to joint $1 billion fund for renewable energy infrastructure in India

The cost of debt finance required to deploy battery storage technologies to support RE integration remains elevated due to associated risk perceptions. These perceptions stem from limited track records of technology performance and, in turn, contribute to reduced cost-competitiveness of RE deployed in tandem with storage. A technology de-risking fund that mitigates technology underperformance risk for lenders can help lower the cost of finance and help generate a track record of deployment.

What kinds of solutions will the proposed fund finance? Which types of storage projects will be eligible for support?