New Delhi: IndiGrid, India’s first and largest listed power sector infrastructure investment trust, has announced receiving a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for a 180 MW / 360 MWh Battery Energy Storage System (BESS) project in Gujarat.
This BESS project, part of a broader 250 MW / 500 MWh initiative by GUVNL, aims to enhance the state’s energy storage capabilities to ensure a consistent supply of renewable energy. As per a Ministry of Power circular, this grid-connected system, located at a GETCO substation, will be classified as a transmission system.
IndiGrid emerged as the second lowest bidder in the reverse auction process conducted by GUVNL, winning 180 MW/ 360 MWh by quoting a fixed tariff of INR 4,49,996 per MW per month, which translates to an annual tariff of overINR 97 crore, the statement said.
The project is awarded through tariff-based competitive bidding (TBCB) mechanism and will be developed on a build, own, and operate (BOO) basis for 12 years. Further extension of the project is possible on a mutually agreeable basis.
Harsh Shah, CEO, IndiGrid, said, “Battery Energy Storage Systems are emerging as a need of the hour to counter the intermittent nature of renewable sources.” He also noted IndiGrid’s growing expertise and recent achievements in BESS development.
IndiGrid’s involvement in the BESS project is poised to contribute to India’s renewable energy objectives and reflects the company’s readiness to support the expected growth in the country’s BESS sector. It owns 36 power projects, consisting of 46 transmission lines with more than 8,468 circuit kilometres length, and 13 substations with 17,550 mega volt amp transformation capacity.
