India's 74 GW Battery Storage Race: Tata Power, Acme Solar, and Bondada Lead the Charge Published By Anupam Nath India targets 74 GW of battery energy storage systems (BESS) by 2031-32 to support its 500 GW renewable energy goal, up from the current 205 MW capacity.�� This ambitious push, backed by ₹33,000 crore in investments including ₹5,400 crore viability gap funding for 30 GW, positions BESS as essential for grid stability amid rising solar and wind integration.�� Three frontrunners—Tata Power, Acme Solar, and Bondada Engineering—are securing orders and scaling operations in this booming sector.��Tata Power's Strategic PivotTata Power, India's largest integrated power company with 26.3 GW generation capacity, leads through its renewable arm.� It signed India's first standalone BESS agreement with NHPC for a 120 MWh project in Kerala, set for completion in 15 months under a 12-year pact.� The firm also plans 100 MW BESS across 10 Mumbai sites for metros, hospitals, and data centers within two years, plus 2.8 GW pumped storage by 2028.�� In H1 FY26, revenue rose 3.7% to ₹33,230 crore, EBITDA up 11.2% to ₹7,960 crore.�Acme Solar's Aggressive ExpansionAcme Solar boasts a 7.4 GW portfolio, including 550 MWh standalone BESS, targeting 10 GW generation and 15 GWh storage by 2030.��� With 2.9 GW operational and 5.2 GW under PPAs, it ordered 5.1 GWh BESS equipment, starting deliveries December 2025.�� A 10 MWh pilot in Rajasthan optimizes FDRE projects, while H1 FY26 revenue surged 86.6% to ₹11.8 billion, EBITDA margins at 89.8%.�� Merchant BESS operations from Q4 FY26 could add ₹1.7 billion annual EBITDA.�Bondada Engineering's EPC GrowthBondada Engineering executes BESS EPC for telecom and renewables clients like NTPC and Jio.� It secured a 400 MWh BOO contract worth part of an ₹8.5 billion order book, estimating ₹25-30 million revenue per MWh at 16-17% IRR.�� Aiming for 2 GW BESS capacity in 2-3 years, its renewable segment dominates a ₹59.9 billion order book.� H1 FY26 revenue jumped 153% to ₹12.2 billion, EBITDA up 182%.�Investment OutlookThese firms trade near industry EV/EBITDA multiples: Tata Power at 11.7x, Acme at 12.3x, Bondada at 15.8x.� Government tenders and falling costs accelerate the 74 GW race, making BESS a cornerstone of India's clean energy transition.��
