- The Union Cabinet approved a ₹14,500-crore Viability Gap Funding (VGF) scheme for developing large-scale battery energy storage systems (BESS) in India. - The initiative aims to address the intermittent nature of renewable energy sources like solar and wind, ensuring grid stability and reliable power supply. - VGF support reduces the capital cost barrier for private developers, promoting private sector participation in critical green energy infrastructure. - Supports India's broader climate commitments and target of achieving 500 GW of non-fossil fuel capacity by 2030. - **Viability Gap Funding scheme for energy storage:** A financial support mechanism provided by the government to make infrastructure projects commercially viable by bridging the gap between project costs and expected revenue returns. - **Union Cabinet:** The supreme executive body of the Union Government, headed by the Prime Minister, responsible for executive administration and major policy decisions. **Introduction** The Union Cabinet approved a ₹14,500 crore Viability Gap Funding (VGF) scheme aimed at establishing large-scale battery energy storage systems across India. This financial mechanism is designed to attract private investment, address renewable energy intermittency, enhance grid stability, and support India's 2030 non-fossil energy targets. **Core Issue and Detailed Points** - The Union Cabinet approved a ₹14,500-crore Viability Gap Funding (VGF) scheme for developing large-scale battery energy storage systems (BESS) in India. - The initiative aims to address the intermittent nature of renewable energy sources like solar and wind, ensuring grid stability and reliable power supply. - VGF support reduces the capital cost barrier for private developers, promoting private sector participation in critical green energy infrastructure. - Supports India's broader climate commitments and target of achieving 500 GW of non-fossil fuel capacity by 2030. **Key Statutory Bodies, Acts & Concepts** - **Viability Gap Funding scheme for energy storage:** A financial support mechanism provided by the government to make infrastructure projects commercially viable by bridging the gap between project costs and expected revenue returns. - **Union Cabinet:** The supreme executive body of the Union Government, headed by the Prime Minister, responsible for executive administration and major policy decisions.