GoodEnough to set up Rs 450 crore factory for energy storage systems in J&K

Top Stories

»	Sensex, Nifty open lower as US-Iran war uncertainty keeps crude prices elevated
»	PM Modi pitches for 100 GW nuclear capacity, 50 companies in Fortune 500 list
»	Piyush Goyal calls for fair trade and recycling as India eyes $30 trillion economy by 2047
»	India’s merchandise exports touched record high at $129.6 bn in Q1 of FY27: Minister
»	MSME Amendment Bill improves regulatory flexibility, scalability: Industry

IANS | 19 Mar, 2024
GoodEnough Energy on Tuesday announced that it would make an investment of over Rs 450 crore for setting up a Battery Energy Storage System (BESS) gigafactory in Jammu & Kashmir.

The gigafactory will ensure grid stability with an Initial capacity of 7GWh which will then be scaled up to 20 GWH capacity by 2026, the company said.

GoodEnough Energy founder Akash Kaushik said the company aims to support India’s Net-Zero goal and various industries with high CO2 emissions including molding industries (plastic etc.), automation, mining, hospitals, refineries, malls and shopping complexes with its 7GWH of annual storage leading to the reduction of over 5 Million tonne of CO2 emission in a year.

The Gigafactory will also create job opportunities for over 100 SMEs as vendors and suppliers and will boost job generation in the J&K region.

The announcement was made here at an event attended by Dinesh Jagdale, Joint Secretary, MNRE, and Rahul Walawalkar, president, India Energy Storage Alliance (IESA).