New Energy delegation to India

Background

Investment NSW is organising a New Energy delegation to India in partnership with Austrade, anchored around International Energy Storage WeekExternal Link on 1-5 July 2024. The delegation will have an opportunity to interact with major Indian companies and potential partners (with combined portfolio exceeding Australia’s installed RE capacity), across Delhi and Mumbai.

The 10th edition of IESW is organised by India Energy Storage Alliance (IESA), India’s peak industry body for energy storage. IESW is an international conference and exhibition focusing on energy storage, e-mobility, charging infrastructure, green hydrogen and micro-grids in New Delhi, India. In Mumbai, the delegation will meet three major Indian companies and attend an industry networking event.

India’s energy storage will play a critical role in India’s energy transition story. India’s power generation planning studies estimate that the country will need an energy storage capacity of 73.93 gigawatt (GW) by 2031-32, with storage of 411. 4 gigawatt hours (GWh), to integrate planned renewable energy capacities. This includes 26.69GW/175.18GWh of pumped hydro storage plants (PSPs) and 47.24GW/236.22GWh of battery energy storage systems (BESS).  Energy storage technologies, with their ability to provide grid management services, could play a critical role in India’s energy transition. The government is also encouraging the growth of this sector through various policies and interventions.

A national framework for energy storage systems (ESS), recently published by the government, aims to support the development of ESS through policy and regulatory measures, financial incentives and performance-based incentives.

The government also approved a viability gap funding of INR 37.6 billion to provide financial support of the capital cost of battery energy storage system projects. Further streamlining taxation between renewable power and energy storage projects, introducing differential pricing mechanisms and developing real-time power market will improve the overall economics of energy storage projects.

Why you should participate

• Access the energy ecosystem and key decision makers through business introductions and networking sessions
• Develop a firsthand understanding of India’s transition towards Net Zero by 2070
• Capitalise on the Australian Pavilion, with NSW branding, presenting NSW Energy capabilities in one location
• Showcase your products and services to customers, buyers, partners, agents and distributors through the exhibition, business networking event and the Australian Energy Capability Guide 2024
• Develop an understanding of the Indian market firsthand, and secure insights into recent trends and reforms in the energy sector in India, driving enhanced opportunities for NSW energy companies
• Receive on-the-ground assistance from NSW Government by way of tailored business meetings and introductions, inputs for planning and set-up, briefings, and coffee lounge services.

Who should participate

• Have headquarters in NSW
• Have a valid Australian Business Number (ABN) registered for NSW
• Provide innovative products, services and technological solutions for the New Energy industry including, but not limited to, the following areas:

1. 1. Energy Storage – advanced battery technology companies
   2. Green Hydrogen
   3. Microgrids
   4. Electric Vehicle & Charging Infrastructure
   5. Renewable Energy Companies
   6. Climate Change
   7. Green skills, education services and R&D

• Be export-capable and export-ready
• Have an employee number between 5 and 300 full-time equivalent (FTE) employees
• The product or service must be manufactured/headquartered in NSW under your own brand (this program is not for aggregators, traders or businesses who sell services to exporters)
• Have a commercially ready product or service
• Have a website featuring the product or service
• Have resources to support marketing and development for a new market
• Must be willing to travel to the selected market and/or Sydney for events, including covering own travel expenses.

Call for Expression of Interest (EOI)

EOI closed on Monday 15 April 2024 at 12pm (AEST).

Mission Program

The program has been designed to maximise your visit. A suggested itinerary is given below:

Special note on the Maitri Research Grant program

The Centre for Australia-India Relations’ Maitri Research Grant program is available for Australian organisations to conduct business research into:

1. New and emerging opportunities for Australian businesses to partner innovatively with Indian counterparts and
2. Opportunities for accelerated commercialisation of Australian research and IP with India.

Australian organisations may apply for project funding of up to $300,000 to conduct and disseminate research in the priority areas of:

• Space
• Defence
• Renewable energy
• Energy transition
• Mobility
• Critical technologies (including semiconductors)
• Agribusiness
• Critical minerals 
• Sustainable mining
• Advanced manufacturing.

To be eligible for a Maitri Research Grant, applicants must have an ABN, be registered for the purposes of GST (if required by the ATO), have an account with an Australian financial institution and be located in Australia.

Eligible Australian organisations are encouraged to view the grant guidelines on GrantConnectExternal Link and submit an application by 9am (AEDT) on 26 March 2024. While Indian businesses and research organisations are not eligible to apply directly, they may partner with an eligible Australian organisation to submit a joint application.

 For more information, visit the Maitri Research Grants websiteExternal Link.