Investment3 Apr 2025, 01:34 pm
SPML Infra Partners with Energy Vault for Grid-Scale BESS Rollout in India
AI Summary
SPML Infra Limited, a leading infrastructure development company in India, has signed an exclusive agreement with Energy Vault, a global leader in sustainable energy storage solutions. The agreement aims to fast-track the manufacturing and deployment of Energy Storage Systems in India through a technology transfer to SPML. This partnership will drive the growth of the country’s green energy sector, enhance grid stability, and support the seamless integration of renewable energy, thereby increasing the availability of reliable and affordable clean energy for consumers nationwide.
Key Highlights
- SPML Infra has signed an exclusive agreement with Energy Vault, USA for technology transfer and localized production and deployment of Energy Storage Systems in India.
- The partnership aims to contribute to India’s renewable energy scale-up and energy storage needs, with a minimum volume of 500 MWh over the next 12 months and a minimum targeted BESS volume of 30-40+ GWh to be manufactured over the next 10 years.
- B-VAULT BESS technology and VaultOS EMS software will be adopted, ensuring reliability, flexibility, and energy sustainability.
- India's energy storage market is poised for unprecedented growth, driven by the country's target of achieving 500 GW of non-fossil fuel-based electricity capacity by 2030.
- This collaboration will bolster SPML’s revenue growth and position the Company as a leading player in India’s BESS market.