Reliance 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% 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% reduction from Gujarat Urja Vikas Nigam Limited’s (GUVNL) Phase 2 rate of ₹4.49 lakh and are only 2% 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.
