GoodEnough Energy invests Rs 450cr in J&K BESS gigafactory

Date: March 22, 2024.GoodEnough Energy, an Indian company specializing in battery energy storage solutions, announced an investment of over Rs 450 crore to establish a Battery Energy Storage System (BESS) gigafactory in Jammu & Kashmir. This is a part of the company’s strategy to enhance its manufacturing capabilities in the BESS sector.

By October 2024, it is expected to begin production with an initial capacity of 7 GWh (Gigawatt-hour) per annum. Moreover, this capacity is slated to be scaled up to a staggering 20 GWh by 2026, signifying GoodEnough’s commitment to long-term growth in the energy storage sector.

“This investment underscores GoodEnough’s dedication to supporting India’s clean energy goals,” said Akash Kaushik, Founder of GoodEnough Energy. “The J&K gigafactory will not only ensure grid stability but also empower various industries to reduce their carbon footprint. Additionally, this project will create job opportunities for over 100 SMEs and contribute significantly to job creation in the J&K region.”

With the expansion of its capacity, GoodEnough Energy is targeting a reduction of 15 million tonnes of CO2 emissions by 2026 through the Gigafactory. To put this into perspective, each litre of diesel produces approximately 3 kg of CO2, and the company’s Gigafactory aims to reduce over 5 million tonnes of CO2 annually with 2 cycles every day.

Furthermore, the project will create a ripple effect by fostering the growth of a domestic supply chain. Over 100 small and medium enterprises (SMEs) are anticipated to benefit from the gigafactory as vendors and suppliers, propelling economic development in Jammu & Kashmir.

GoodEnough’s investment in J&K marks a significant step forward in India’s clean energy journey. Moreover, the gigafactory’s focus on innovation and domestic manufacturing positions GoodEnough as a key player in shaping a sustainable future for the nation.

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