Reliance Power Secures 500 MW Battery Energy Storage Contract

17 Sep 2024

New Delhi: Reliance Power announced on Monday that it has secured a significant contract for battery energy storage, totalling 500 MW, through an e-reverse auction (eRA) organized by the Solar Energy Corporation of India (SECI). The auction, which took place on September 11, 2024, is part of SECI’s broader initiative to bolster energy storage infrastructure across the country.

The awarded contract involves the installation of 1,000 MW of standalone Battery Energy Storage Systems (BESS) under a build-own-operate (BOO) model, designed for "On Demand" use and based on a tariff-based competitive bidding process. Reliance Power successfully obtained 500 MW of this capacity, marking a notable advancement in the renewable energy and storage sector. The company submitted a tariff bid of Rs 3.81999 lakh/MW/month, setting one of the lowest tariff benchmarks for BESS tenders at the 400 kV level in India to date.

The project will be delivered at the 400 kV Fatehgarh (ATL) PS in Rajasthan, with full commissioning expected within 24 months from the effective date of the Battery Energy Storage Purchase Agreement (BESPA).

The auction attracted several major industry participants. Reliance Power’s successful bid underscores its strategic pivot towards renewable energy and storage solutions, promising enhanced competition and efficiency within the sector. This competitive tariff is anticipated to set new benchmarks and advance India’s energy storage capabilities.