Suresh Prabhu seeks investment in R&D for energy storage sector

Commerce and Industry Minister Suresh Prabhu on Thursday made a case for increasing investments in research and development activities in the area of energy storage.

Addressing the Energy Storage India 2018 meet, organised by India Energy Storage Alliance (IESA), the minister said it is a critical component in global energy strategy. In a statement to PTI, quoting Prabhu, IESA notified that the leaders should start investing in R&D.

The storage process involves capturing of energy produced for using it later through an accumulator or battery. It converts energy into conveniently storable forms. About 1,000 industry experts, 100 speakers, 50 exhibitors and partners are participating from over 25 countries in the event, IESA said.