Where we have seen energy storage is most successful, is where you do have a government policy. Eventually, a lot of production has to be localised for India.
India hopes to benefit from Argentine agriculture sector, a strong pillar of local economy, besides tapping natural gas deposits.
Surging crude oil prices and a declining rupee came as a double whammy for the equity market.
Buy Oil India at a price target of Rs 230.
"This marks the first foray of Sterlite Power into grid connected battery energy storage systems (BESS)," the company said in a statement.
International Brent crude oil futures were up 29 cents, or 0.5 per cent, at $63.90 a barrel.
“We think India is going to be a big market for energy storage,” CEO of AES Andres Gluski said.
International Brent crude futures were up 0.9 per cent, or 53 cents, at $62.95 per barrel.