Greenko Group has won 3 GWh of energy storage capacity from NTPC Renewable Energy Ltd, the renewables arm of state-owned power producer NTPC. It won the capacity by quoting the lowest bid in the technology-agnostic storage tender that saw participation from Li-ion battery, Na-S battery, and compressed-air storage technologies in addition to pumped storage.
Greenko is developing the world’s largest energy storage platform based on pumped storage technology and has 50 GWh of storage projects already under development.
As per the tender, Greenko will provide 500 MW/3,000 MWh of standalone storage capacity for 25 years to NTPC REL.
NTPC REL will utilize the storage capacity to supply round-the-clock power to utilities and industrial customers.
The tender outcome establishes pumped storage technology as the preferred and lowest-cost long-duration energy storage solution.
“The winning bid translates into unit storage charges of $58/MWh on a single cycle per day basis, a remarkable feat in view of the storage charges discovered in another recent energy storage procurement tender based on battery energy storage systems by SECI ($120/MWh),” stated Greenko. “Taking into account the fact that pumped storage project can deliver more than one cycle per day without any impact on the performance, effective storage charges can be significantly lower at $29/MWh.”
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