India approves ₹1.86 trillion Green Energy Corridor Phase-III with battery storage

Prime Minister Narendra Modi chaired the Union Cabinet meeting that approved the Green Energy Corridor Phase-III, a ₹1.86 trillion initiative to expand India's intra-state transmission infrastructure. The scheme aims to move 135 GW of renewable electricity across states and to deploy 50 GWh of battery energy storage systems by the 2032-33 fiscal year, addressing intermittency and peak-hour curtailment. Of the total outlay, ₹1,36,378 crore is earmarked for transmission upgrades and ₹50,000 crore for battery storage, with central financial assistance of ₹54,082 crore to keep power costs low.

New greenfield projects will be awarded through tariff-based competitive bidding, while existing lines will be upgraded on a cost-plus basis, managed by state transmission utilities and BOOM-mode transmission service providers. The project is designed to help India reach its 900 GW non-fossil generation goal by 2035 and is expected to generate significant employment in power, construction and domestic battery manufacturing.