AsiaElec: Indian renewables firm wins 3,000 MWh storage tender

One of India’s leading renewable energy firms, Greenko Group has won a large-scale energy storage tender to initiate an interstate transmission system (ISTS) on a build, own and operate (BOO) basis.

As one of the nation’s most widely respected names in the renewables industry of late, Greenko already has 125 plants in place throughout 15 states across the sub-continent, with a total installed capacity of just over 7.5 GW.

By moving into the ISTS sector, Greenko, as backed by the Japanese financial company ORIX and GIC Holdings of Singapore, is agreeing to a 25-year energy storage deal with NTPC Renewable Energy (NTPCRE), a subsidiary of India’s largest utility, NTPC Ltd.

The tender was first made public in January, 2022, and is set on an evaluated price framework that will, in effect, see storage charges amended year by year to allow for cycle efficiency.

Greenko is reported to have secured the entire capacity put out to tender with a successful bid of $33,985 per MWh for a year.