India's Battery Storage Market: Key Players and Projected Growth
India's battery storage market is set to grow from 1.1 GWh in 2025 to 236 GWh by FY32, driven by government policies and significant investments. Companies like Waaree Energies, Pace Digitek, and Acme Solar are leading this expansion with aggressive capacity plans and innovative strategies.
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India's battery energy storage system (BESS) market is projected to expand dramatically, needing 236 GWh by FY32, up from just 34.7 GWh in FY27E. Waaree Energies is scaling its Gujarat gigafactory to 20 GWh capacity by FY28, investing ₹10,000 crore and targeting diverse end-users.
Pace Digitek aims to increase its BESS capacity from 2.5 GWh to 10 GWh by October 2026, enhancing efficiencies through in-house integration. Acme Solar, with a current BESS capacity of 2.3 GWh, plans to reach 20 GWh by 2030 and is leveraging merchant power arbitrage for revenue generation. The success of these companies hinges on their ability to execute projects efficiently and maintain supply chain reliability.
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