The latest renewable energy news includes announcements on India’s Energy Storage Programme, Return, rPlus Energies, and others.
India Approves ₹14,500 Crore for 92 GWh Energy Storage Programme, Targets ₹97,600 Crore Investment
India’s Union Cabinet approved a ₹14,500-crore viability gap funding programme on November 4 to support the development of 92 GWh of grid-scale energy storage capacity by FY2030–31. The programme is expected to attract approximately ₹97,600 crore in total investment. It covers 60 GWh of pumped hydro storage, 30 GWh of battery energy storage systems and 2 GWh of alternative storage technologies. Financial assistance will be provided between FY2026–27 and FY2030–31. Projects will be selected through competitive bidding, with domestic content requirements applicable to battery installations. The programme is designed to improve renewable-energy integration and support India’s projected requirement of approximately 411 GWh of storage by FY2031–32.
Return Secures €835 Million Financing to Expand German Battery Storage Portfolio
European battery storage developer Return has secured €835 million in portfolio financing underwritten by Deutsche Bank and Rabobank to accelerate battery installations in Germany. Announced November 4, the financing initially covers three battery projects with combined capacity of 117 MW. Return plans to install at least 1 GW of battery storage capacity annually from 2027 and expects German investments of €750 million to €1.2 billion annually, depending on market conditions. The company has an active development portfolio exceeding 8 GW and targets more than 5 GW of battery capacity by 2030. Its commercial arrangements include 400 MW of battery flexibility contracted with ENGIE and another 100 MW with Centrica Energy.
rPlus Energies Secures $450 Million Financing for US Solar and Battery Storage Projects
US renewable-energy developer rPlus Energies has closed a $450 million revolving credit facility to finance solar and battery storage projects across the American West. Announced November 3, the three-year arrangement provides borrowing capacity and letters of credit for project development and construction. Canadian Imperial Bank of Commerce served as lead arranger and administrative agent. Other participating lenders include National Bank of Canada, Truist Bank, KeyBank, Wells Fargo, MUFG and Zions Capital Markets. The financing is supported by cash flows from nearly 1 GW of operational renewable-energy assets, including Green River Energy Center and Pleasant Valley Solar 2. Both projects entered commercial operation and completed long-term financing earlier in 2026.
