 "Reliance Power clinches a groundbreaking 500 MW battery storage contract, revolutionizing India’s renewable energy landscape and setting competitive tariff benchmarks.")
Reliance Power has made a significant move into the renewable energy and storage sector by securing a 500 MW battery storage contract through an auction organized by the Solar Energy Corporation of India. The e-reverse auction, held on September 11, 2024, aims to boost the country’s energy storage capabilities. Reliance Power’s bid features one of the lowest tariffs for battery energy storage systems, at Rs 3.81999 lakh per MW per month. The project will involve the installation of 1,000 MW of storage units and is scheduled to be fully commissioned within 24 months. This successful bid underscores Reliance Power’s commitment to renewable energy solutions and is expected to enhance competition and efficiency in India’s energy sector.
Reliance Power Makes Major Move into Renewable Energy Storage
Reliance Power has taken a significant step in the renewable energy sector by securing a battery storage contract of 500 MW. This achievement is a result of an e-reverse auction conducted by the Solar Energy Corporation of India (SECI) on September 11, 2024. As part of SECI’s aim to improve energy storage capabilities, this contract involves the construction of standalone Battery Energy Storage Systems (BESS) units.
The deal includes a total capacity of 1,000 MW, with Reliance Power’s bid involving a competitive tariff of Rs 3.81999 lakh per MW per month. This bid represents one of the lowest rates for battery storage tenders at the 400 KV level in India. The project will be based in Rajasthan, with a scheduled completion date set for 24 months after the signing of the Battery Energy Storage Purchase Agreement.
Reliance Power’s move into energy storage marks a strategic shift for the company, aligning with global trends towards renewable energy and sustainable practices. This successful bid not only enhances Reliance’s position in the Market but also promotes increased competition and efficiency in India’s energy sector.
As the company builds its presence in this vital area of renewable energy, industry experts anticipate that such competitive tariffs will lead to further development and improvements in energy storage across the nation.
Tags: Reliance Power, Renewable Energy, Battery Storage, Energy Storage Systems, SECI, India Energy Sector, Clean Energy Solutions, Sustainable Practices.
What is the recent news about Reliance Power?
Reliance Power won a contract for a 500 megawatt battery energy storage system through an auction.
What does a battery energy storage system do?
A battery energy storage system stores energy for later use, helping to balance supply and demand in the electric grid.
Why is this contract important?
This contract is important because it helps increase the use of renewable energy and supports energy stability for the future.
How does this contract benefit Reliance Power?
Winning this contract allows Reliance Power to expand its services and strengthen its position in the energy sector.
When will the project be completed?
The specific timeline for the project completion hasn’t been announced yet, but it typically takes a few years to build and set up large energy storage systems.
