Battery storage consortium on cards

livemint.com:

NEW DELHI : As countries move toward ambitious net zero goals, a leading international non-profit supporting clean energy is likely to launch a global consortium on battery energy storage systems (BESS) at the coming UN climate change conference, to be held in the UAE. Global Energy Alliance for People and Planet , formed in 2021 by the Rockefeller Foundation, IKEA Foundation and Bezos Earth Fund among others, plans to float the Global BESS Consortium at the UN Cop28 meeting, which will held from 30 November to 12 December. Ashvin Dayal, senior vice president, power and climate at Rockefeller said the consortium will look at ways to both drive down the cost and unlock the value proposition for power distribution companies in terms of adoption of battery storage.

The consortium is a multi-stakeholder partnership aimed at transforming energy systems in Africa, Asia, Latin America and the Caribbean through the deployment of battery energy storage. “We formed the global BESS consortium this year. We are going launch it formally at COP28.

So, we are trying to bring together a collection of countries," he said. He said that apart from bringing countries under its ambit, the consortium would also include multilateral development banks as financial partners, and battery energy companies as technical partners. “We also looking at the investors.

Many of them are actually the multilateral development banks, the development finance institutions -- what we are calling resource partners who want to invest in BESS—but also want to make sure that there’s a kind of a demand side for this from the countries and that countries are interested in investing more. The point of the consortium is put them together. There’s a third leg to that