Greenco was the lowest bidder for a tender called for 3,000 megawatt hours by NTPC Renewable Energy, a unit of the state-run firm, on a cycle-per-day basis for ₹5 per kWh.
New Delhi: GIC Holdings Pte Ltd, Abu Dhabi Investment Authority and Japan's Oryx Corp-backed Greenco Group said it has placed the lowest bid for the world's first and largest technology agnostic energy storage tender floated by power producer NTPC Ltd. .
Greenco was the lowest bidder for the 3,000 mega watt hours (MWh) tender won by NTPC Renewable Energy Ltd, a unit of the state-run firm, along with Italy's Enel Group Indian arm Enel Green Power (EGP), JSW Neo Energy Ltd, Hinduja Renewables Energy Private Ltd was called with HES. Infra Pvt Ltd and India Grid Trust (IndiGrid) are also in the fray. Greenco's lowest bid was ₹5 per kWh on a cycle per day basis, with the effective storage charge being much less than ₹2.5 per kWh.
The tender is for supply of 500 MW for six hours for a period of 25 years in which various storage technologies such as PSP, Lithium Ion Battery, Sodium Sulfur Battery and Compressed Air Storage were competed. NTPC is planning to supply round the clock power to the Commercial and Industrial (C&I) segment. Open access allows large users of electricity to buy power from the open market instead of relying on the more expensive grid. These projects are generally insulated from risks such as power purchase cuts and tariff-shopping by discoms.
Queries sent to spokespersons of NTPC Ltd., Enel Green Power, and JSW Neo Energy Ltd were not immediately replied to. Hinduja Renewables Energy Pvt Ltd, HES Infra Pvt Ltd and IndiGrid could not be immediately contacted.
Greenco has India's largest operational clean energy portfolio of 7.5 gigawatts (GW) and 50 gigawatt hours (GWh) of storage on pumped storage technology (PSP) as part of its plan to set up an energy storage cloud platform of 100 GWh is building capacity. , National Investment and Infrastructure Fund (NIIF) Ayana Renewable Power Pvt. Ltd. has also partnered with Greenco Group to store 6-GWh electricity in a hydro pumped storage plant that Greenco is building at Pinnapuram in Andhra Pradesh.
“This storage tender is an inflection point in the global energy transition journey as it establishes a model for procurement of long-term energy storage capacity by RE generators and utilities to provide decarbonized power supply solutions to meet the nation's net-zero requirements.” can be prepared." said in the statement.
With India committing to net-zero carbon emissions by 2070, increasing non-fossil energy capacity to 500 GW by 2030 and reducing the carbon intensity of its economy by 45% compared to 2005 levels; Energy storage is expected to play an important role. According to India's peace power sector planning body Central Electricity Authority (CEA), by 2030, the country's electricity requirement will be 817GW, of which more than half will be clean energy. In addition, according to the CEA, the country needs 27 GW of battery storage by 2030 with four hours of storage and 10 GW of hydro pumped storage plants (PSPs).
India's electricity storage space is expected to be an important part of the energy transition. The idea is to store cheap green energy during off-peak hours in pumped storage projects and release it for consumption when electricity demand increases. The central government is also looking to leverage India's hydropower potential to facilitate the world's largest energy transition, as they offer an ideal solution for meeting peak loads. Large battery storages that store electricity in the form of chemical energy or electrochemical energy and convert it back into electricity can help India's electricity grids given the intermittent nature of electricity from clean energy sources such as solar and wind. Huh.
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