Animesh.A.Damani, Managing Partner, Artha Energy Resources speaks on recent budget

“The sheer inclusion of Renewable Energy (RE) and cleantech in the Budget 2022-23 speech by the hon’able FM is a clear indicator of the increased prominence that the RE segment has had in the last few years! The sector has grown by leaps and bounds, thus establishing a formidable position.

The focus on EV and Energy Storage Solutions (ESS) is clearly the need of the hour. The introduction of battery swapping initiative is in line with our expectation for a while. Interoperability of energy storage is going to revolutionise the consumption of RE in India. It is not only going to improve logistics for EV users, but also create a micro-economy – that will create budding entrepreneurs in the segment. Moreover, the hon’able FM has granted Energy Storage Solution (ESS) and grid scale battery system an ‘infrastructure’ status, which has been done largely to boost demand. This move is bound to attract better financing options for the said segment, increase scalability, which in-turn will eradicate the barrier of DISCOMs not opting for RE power on account of intermittent supply.

On the accountability front, I truly hope that the forward-looking move by the Central govt ministry to introduce end-to-end online e-Billing system is trickled down and implemented at central agencies such as SECI and IREDA. This will better the payment cycles and improve the financial standing of the power generation companies”.