Reliance Power announced today its arm Reliance NU Suntech has won a 930 MW solar with battery energy storage project from Solar Energy Corp. of India (SECI). It won this project in SECI’s auction of 2 GW of inter-state transmission system (ISTS) connected solar power projects with 1 GW/4 GWh energy storage capacity.
As per the terms of the tender, Reliance NU Suntech will also have to install a minimum storage capacity of 465 MW/1,860 MWh charged by solar power. The Letter of Award (LoA) is awaited from SECI.
Reliance NU Suntech secured the largest individual allocation out of the five companies vying for a total quoted capacity of 2 GW of solar with 1 GW/4 GWh energy storage systems. It won the project at a tariff of INR 3.53 ($0.0416)/kWh.
“Reliance NU Suntech’s win underlines the technological progress made in solar power with BESS in India which has made it a cost-effective alternative to renewable energy options. The project will guarantee a peak power supply of four hours daily (or a four-hour discharge duration),” stated the company.
SECI will enter into a power purchase agreement (PPA) with Reliance NU Suntech for a period of 25 years and the solar power procured will be sold to multiple discoms in India. Reliance NU Suntech will develop the project on a build-own-operate basis and will have to connect to the interstate transmission system in compliance with Central Electricity Regulatory Commission regulations for interconnection with the ISTS or InSTS.
Reliance Power Ltd, part of the Reliance Group, is a private-sector power generation company in India. It has an operating portfolio of 5,300 MW, which includes 3,960 MW Sasan Power Ltd (world’s largest integrated coal based power plant).
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