New Delhi, Feb 1 (IANS): Ranjit Gupta, Chairman, FICCI Renewable Energy CEOs Council and Azure Power CEO, has said that the Union government's decision for an additional allocation of Rs 19,500 crore under the PLI scheme for manufacturing high efficiency solar photo-voltaic modules will give a huge fillip to domestic manufacturing.

This will improve the availability of solar modules in the country, thereby ensuring timely project deliveries while creating incremental employment, he added.

"We welcome the government's announcement to issue sovereign green bonds for mobilising resources for green infrastructure. This would help the government in accelerating the electricity grid and other associated energy infrastructure upgrades," Gupta said.

The decision to announce a battery swapping policy and inter-operability standards with emphasis on battery or energy-as-a-service and decision to assign infra status to energy storage systems, he added.

This will further develop energy storage tech and allow renewable energy industry to partner commercial and industrial customers in their decarbonisation journey, standardise battery specifications and improve electric vehicle adoption in the country.

"This will also increase grid stability as the share of renewable energy in the energy mix continues to rise and aid in financing energy storage projects," he added.