ViZn Energy Systems Inc., a leading provider of energy storage systems based in Texas, recently approved a 1 megawatt-hour (MWh) energy storage contract to ensure grid stability in India. The storage system will be installed and integrated by Raychem RPG at the Power Grid Corporation of India Limited (PGCIL) facilities in Puducherry, India.
India has been dedicated to developing renewable energy, and aims to install over 9 gigawatts (GW) of new solar power capacity in 2017, making it one of the largest solar markets in the world along with China, the United States, and Japan. India is currently the fourth largest wind market in the world with over 25 GW of installed wind power generation capacity. PGCIL received a mandate from the central Indian government to plan, coordinate, supervise, and control the inter-state transmission systems and the national and regional power grids.
ViZn president and CEO Ron Van Dell said that, “India is an exciting yet virtually untapped market for energy storage due to the rapid growth of renewable energy and utility infrastructure challenges.” He also mentioned that the grid is a significant element in renewable generation, and storage is an effective way to integrate clean energy and offer reliable and resilient power.
As the second largest state in the US by both population and GDP, Texas has significant trade relations with India. In year 2014, Texas’s exports to India totaled $1.95 billion and its imports from India amounted to $4.04 billion. The top exports from Texas were chemicals, petroleum, and coal, which accounted for 33.6% and 18.9% of total exports to India, respectively. The top import was food manufacturing, which was valued at US $1.04 billion, comprising about a quarter of Texas imports from India.
In addition, India is one of the leading countries for foreign direct investment (FDI) projects in Texas. As of 2016, there were 19 Indian FDI projects in Texas, creating 6,317 jobs and valuing $363.70 million. At the same time, India is the third highest FDI destination for Texas; the state has 60 investment projects in India, creating 16,669 jobs and valuing $3,189.70.
Xiaoyi Wang is a research intern at the East-West Center in Washington, D.C. and a graduate student at Georgetown University.