Tag: viability gap funding

The Union Cabinet on Wednesday approved the scheme for viability gap funding (VGF) of ₹3,760 crore for the development of battery energy storage systems (BESS). “The approved scheme envisages development of 4,000 megawatt hour (MWh) of BESS projects by 2030-31 with a financial support of up to 40 per cent of the capital cost as budgetary support in the form of VGF,” the government said. A watershed moment in the long list of pro-environment measures taken by the government, the move is expected to bring down...