Indian conglomerate Adani Group plans to build a 1.1 GW battery energy storage system (BESS) in the western state of Gujarat, Bloomberg reports, citing sources it says are familiar with the matter. The large-scale project, slated for completion by March 2026, will be located at Khavda in Gujarat’s Kutch district, where the group is developing a large renewable-energy complex.

Energy ambitions: The project is planned as one of the world’s key single-location battery storage systems to support Adani’s renewable-energy portfolio. The group aims to expand its total storage capacity to about 50 GWh within five years. Adani is also in discussions with several international firms for technological support, the news outlet reports.

Balancing the grid: India will need to quickly scale up its battery storage to meet its clean energy goal of 500 GW by 2030. India’s energy-storage requirement is projected to reach about 82 GWh by 2027 and 411 GWh by 2032, according to the New and Renewable Energy Ministry.

Gulf-investors have a keen interest in India’s clean energy sector — Abu Dhabi’s International Holding Company invested about USD 2 bn in Adani’s green energy businesses in 2022, signalling deepening India-MENA capital ties in renewable infrastructure. It offloaded about INR 18.3 bn (USD 210 mn) worth of shares in Adani Enterprises in March, Zawya reports.

ADANI RIGHTS ISSUE-

Rights Issue to fund projects: The group’s flagship Adani Enterprises aims to raise INR 249 bn (USD 2.8 bn) through a rights offering to current shareholders at a 24% discount to the recent closing price, according to a regulatory filing. The firm will sell 138.5 mn shares priced at INR 1800 contrasting with the stock's closing price of 2366.8 at the closing bell on Tuesday. Proceeds from the rights issue will fund the company planned expansion of infra and green energy projects.

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