PURE plans ₹400 crore capex over next three years in energy storage business | Company Business News-OxBig News Network

New Delhi: Energy storage and electric two-wheeler company PURE plans to spend around ₹400 crore over the next three years to expand its battery energy storage capacity to 2.5 gigawatt hours (GWh).

On Wednesday, the company launched a battery-based 5 MWh grid storage product, called PuREPower Grid.

“PURE is set to invest ₹400 crore in the next 18-36 months in energy storage products to expand battery and Power electronics production and in-house firmware capabilities, boosting its capacity to 2.5 GWh from the current 250 MWh. This expansion, funded through equity and debt, builds on the ₹100 crore+ invested in R&D, plant setup, and battery manufacturing,” said a company statement.

Also Read | Schneider plans next phase of India investments, eyes energy storage solutions

“The expansion will aid energy storage products to boost battery and power electronics production and in-house firmware capabilities from an existing 250 MWh to the projected 2.5 GWh,” it added.

It said that the expansion will be funded through a mix of equity and debt.

“Our products are 69% indigenous. So, when we talk about rectifiers, converters, capacitors, super-capacitors…everything we have localized. This power electronics and firmware integration has been a very, very critical thing for us. We have harnessed our deep expertise in battery technology and power electronics to create a grid-scale product that is powerful, intelligent, and cost-effective. PuREPower Grid will contribute to grid stability and the seamless integration of renewables,” said Nishanth Dongari, founder, PURE.

The company’s newly launched PuREPower Grid features a multi-level thermal management or cooling system, liquid cooling at pack-level, and rack-level, said a company statement, adding that the ingenious design guarantees efficient heat dissipation, extending the lifespan, better round-trip efficiencies and offers enhanced safety.

“PuREPower Grid also incorporates Cloud & Predictive AI for seamless remote monitoring and 100% uptime, minimizing disruptions and maximizing operational efficiency,” it said.

The development comes at a time when the Centre has mandated 10% integrated battery storage for all upcoming tenders for solar power projects.

BESS demand growing

Demand for Battery Energy Storage Systems (BESS) in India is growing, with the market projected to reach over $36 billion by the end of this decade, driven by the nation’s commitment to integrating its ambitious 500GW of non-fossil energy and a need for over 200 GWh of BESS by 2030.

Storage gains significance in amid India’s ambitious energy transition goals. As renewable power sources like solar and wind are intermittent they can make the power grid unstable, and storage solutions would ensure grid stability.