In a significant development aimed at bolstering India’s renewable energy infrastructure, GoodEnough Energy revealed its intention on Tuesday to invest over Rs 450 crore in establishing a Battery Energy Storage System (BESS) gigafactory in the region of Jammu & Kashmir.
According to the company’s statement, the gigafactory will play a pivotal role in ensuring grid stability, commencing with an initial capacity of 7GWh, which is projected to be ramped up to 20 GWh by the year 2026.
GoodEnough Energy Founder Akash Kaushik has emphasized the company’s commitment to supporting India’s Net-Zero goal, alongside various industries characterized by high CO2 emissions, such as molding industries, automation, mining, hospitals, refineries, malls, and shopping complexes. It is anticipated that the gigafactory’s 7GWh annual storage capacity will contribute to reducing over 5 million tonnes of CO2 emissions per year.
Furthermore, the establishment of the gigafactory is expected to generate employment opportunities, with more than 100 small and medium-sized enterprises (SMEs) poised to benefit as vendors and suppliers. This move is anticipated to bolster job creation in the Jammu & Kashmir region.
The announcement was made during a notable event attended by Dinesh Jagdale, Joint Secretary of the Ministry of New and Renewable Energy (MNRE), and Rahul Walawalkar, President of the India Energy Storage Alliance (IESA).