OCTOBER, 20249Reliance Power has been awarded a contract by the Solar Energy Corporation of India (SECI) to build a 500 MW/1000 MWh Battery Energy Storage System (BESS), signaling a notable debut in the renewable energy and storage industry.The agreement includes the deployment of 1000 MW/2000 MWh of independent BESS units, given through a build, own, and operate (BOO) method for "on demand" use through a tariff-driven competitive bidding system.Reliance Power offered Rs 3.8199 lakh per MW per month in their bid. This marks a significant decrease from past BESS projects, representing a pivotal moment in India's continuous development of renewable energy.Reliance Power will have to oversee the setup of the system, which involves identifying land, installing equipment, obtaining approvals, and connecting to the ISTS.SECI's most recent auction shows a notable 65 percent decrease in tariffs when compared to its original BESS tender priced at 10.83 lakh per MW per month.The existing tariffs offer a 15 percent reduction from Gujarat Urja Vikas Nigam Limited's (GUVNL) Phase 2 rate of 4.49 lakh and are only 2 percent higher than the GUVNL Phase 3 tariff of 3.72 lakh. Upon completion, this project will rank among the biggest independent energy storage systems globally. India is looking for investments and technology transfers from South Korea and Japan in order to create shipbuilding and ship repair clusters to enhance the domestic shipping supply chain in the country. At present, India's share in the worldwide shipbuilding industry is less than 1 percent, with China, South Korea, and Japan being the major players."We are looking at South Korea and Japan for investments and technology transfer for establishing shipbuilding and ship repair clusters in India," TK Ramachandran, Secretary in Ministry of Ports, Shipping and Waterways (MoPSW), added.Ramachandran visited Goa for the 20th Maritime State Development Council (MSDC), where they talked about a large shipbuilding park that would cover several states."We have communicated to them (South Korea and Japan) that you come with your technology and investments, we will provide you land for setting up shipbuilding and ship repair clusters," he said.The Indian delegation has met with officials and organizations in South Korea to gauge their interest in investing in India for the establishment of shipbuilding and repair facilities at its planned mega shipbuilding parks, as stated by the secretary. A comparable activity is suggested for Japan to assess their desire for engaging in shipbuilding projects in India.Ramachandran further mentioned that Sarbananda Sonowal, the Union Minister of Ports, Shipping, and Waterways, has sent letters to all state chief ministers requesting immediate land allocation in case Japanese or Korean companies show interest in establishing shipbuilding and ship repair clusters in their respective states. TOP STORIESRELIANCE POWER SECURES 500 MW BATTERY ENERGY STORAGE CONTRACTINDIA SEEKS FUNDING FROM KOREA & JAPAN TO BOOST SHIPPING SUPPLY CHAIN
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