Cabinet clears ₹14,500 crore storage funding scheme
The Union Cabinet approved ₹14,500 crore in viability gap funding for 92 GWh of grid-scale storage by FY2030–31, with expected investment of ₹97,600 crore. Renewable and utility stocks showed mixed-to-positive moves, led by Adani Green Energy’s 3.6% gain.
pre-market2 sources ↓machine-written, see hownot a recommendation
- ADANIGREEN close
- ₹1,388
- On the day
- +3.64%
- Futures OI, long build-up
- +0.0%
- Put-call ratio
- 0.95
- Max pain
- ₹1,300
The Union Cabinet approved a ₹14,500 crore viability gap funding scheme on 04 Nov 2026 to develop 92 GWh of grid-scale energy storage capacity across India over five years, from FY2026–27 to FY2030–31. The programme covers 60 GWh of pumped hydro storage, 30 GWh of battery energy storage systems and 2 GWh of new storage technologies. ₹97,600 crore investment is expected to be mobilised through the initiative ⚡
The scheme targets a critical infrastructure gap as India integrates more renewable power into the electricity network. The planned capacity addition is equivalent to about 170% of the country’s existing grid-scale storage capacity and is intended to support the estimated 411 GWh requirement by FY2031–32. Projects will be awarded through tariff-based competitive auctions, creating potential work for power producers, infrastructure developers, EPC contractors, battery suppliers and equipment manufacturers.
OI Charts data showed a positive market response across selected renewable and utility companies on 04 Nov 2026. Adani Green Energy closed at ₹1,388, up 3.6%, after gaining 9.4% over five sessions; its futures showed a long build-up, with open interest unchanged at 21.6 million shares. The ₹1,400 call had the largest call open interest, while ₹1,300 had the largest put open interest and max pain stood at ₹1,300. 📈
Tata Power rose 1.0% to ₹360 and gained 7.5% over five sessions. Its futures open interest increased 0.5% in a long build-up, with the largest call open interest at ₹380, the largest put open interest at ₹350 and max pain at ₹355. NTPC was comparatively steady at ₹321.95, up 0.1%, while its futures open interest rose 1.3% in a long build-up. Its largest call open interest was at ₹320 and max pain at ₹315.
The next market focus is the auction framework, project awards and the pace at which private investment converts into storage orders. The 19 Nov 2026 futures expiry also places ₹1,400, ₹380 and ₹320 among the key call-side levels for the respective companies. The policy is relevant to the energy, infrastructure and battery-storage supply chain, but execution timelines and auction terms will determine the immediate commercial impact. 🔋
Source: Free Press Kashmir and The Hindu, 04 Nov 2026.
Not investment advice. For informational purposes only.