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

Top Stories

»	India emerging as global AI leader with visionary policies: FM Sitharaman
»	GST portal opens for filing annual returns GSTR-9 and GSTR-9C for FY24-25
»	India’s IPO market poised to raise $20 billion in next 12 months
»	PM Modi meets Keir Starmer in Mumbai for strengthening India-UK ties
»	Piyush Goyal, Keir Starmer discuss ways to deepen trade and economic partnership

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).