New Delhi: On Monday, Reliance Power declared that it had won a 500 MW battery storage contract from the Solar Energy Corporation of India (SECI) through an e-reverse auction (eRA). The auction, which took place on September 11, 2024, is a component of SECI's effort to improve energy storage capacities nationwide. The agreement includes putting in place 1,000 MW of independent BESS units, granted under a tariff-based competitive bidding process for "On Demand" use, following a build-own-operate (BOO) model.
A company representative stated that Reliance Power has acquired 500 MW MWh of capacity, marking a substantial debut in the renewable energy and storage industry. During the competitive bidding process, Reliance Power offered a tariff bid of Rs 3.81999 lakh/MW/month. This fresh tariff standard is among the least expensive rates for BESS tenders at the 400 KV level in India up to now.
The project's designated delivery location will be Fatehgarh(ATL) PS, Rajasthan, at 400 kV. The complete capacity is expected to be operational 24 months after the BESPA (Battery Energy Storage Purchase Agreement) goes into effect. Several important companies took part in the auction process. Reliance Power's triumph in the bid showcases the company's move towards renewable energy and storage solutions, paving the way for more competition and efficiency in the sector. The launch of competitive pricing is anticipated to establish fresh benchmarks and propel progress in India's energy storage abilities.
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