A recent news indicating a boost in India’s clean energy as Tesla Group which is a well known battery energy storage systems (BESS) company, and SRAM & MRAM Group, a global technology and sustainable development firm, signed a USD 1 billion partnership to set up more than 20 giga factories worldwide, including five in India.
Tesla Group and SRAM & MRAM Group Signing USD 1 Billion Partnership
The main reasons behind setting up these facilities are aimed at strengthening the global supply chain for battery manufacturing and storage for electric vehicles (EVs) and supporting emission reduction goals under the Paris Climate Accord.
As per this plan, the giga factories will be located in Slovakia, Romania, Bulgaria, Maharashtra, Telangana, Gujarat, Karnataka, Andhra Pradesh, Uttar Pradesh, Madhya Pradesh, Jharkhand, Texas, Florida, Kuala Lumpur, Oman, Brazil, UAE, Cambodia, Australia and Nigeria.
They have selected these sites based on renewable energy potential, supportive policies, and market demand.
Each of these facilities will span around 500 acres having an employment potential of up to 100,000 people.
In this deal, the Tesla Group is slated to lead the design, engineering and construction of the plants, while SRAM & MRAM Group will be responsible for securing approvals, subsidies, tax incentives and local partnerships.
A Game-changer For Global Clean Energy Transition
The President of Tesla Group, Nanda K. Bhagi said, “This partnership is a game-changer for the global clean energy transition. By combining our advanced BESS technology with SRAM’s global expertise, we are not only building factories but also fostering vibrant communities that will drive the future of sustainable energy.”
This collaboration would catalyse renewable energy development across multiple markets, said Sailesh L. Hiranandani, the Chairman of SRAM & MRAM Group.
Further adding, “Our expertise in technology, healthcare, and global operations will catalyse innovation in renewable energy and biotechnology, creating jobs, advancing technology, and delivering economic benefits across 20 nations.”
These upcoming five giga factories will align with the country’s net-zero target for 2070 and the government’s focus on renewable energy, energy efficiency and hydrogen-based initiatives.
These companies expect to reinforce India’s position as a clean energy hub and accelerate its zero-emission goals by adding large-scale energy storage capacity.
