Construction Industry News
The Solar Energy Corporation of India (SECI) is planning a 2,000 MWh standalone energy storage system which will be executed by the private sector. The state-owned solar energy focused corporation said the projects will be set up on a build-own-operate (BOO) basis with a 25-year agreement.
The detailed tender will be floated by August end. SECI has issued a notice for request for selection. SECI will enter into an agreement with the successful bidders for 25 years as per the terms, conditions, and provisions.
India has announced ambitious renewable energy targets (mainly for solar and wind sources) 175 GW by 2022, 275 GW by 2027, and 450 GW by 2030. However, the capacity value of these variable renewable energy sources is limited without grid-scale energy storage.
Last month, NTPC had invited expressions of interest from domestic and global companies for 1,000 MWh of grid-connected battery energy storage system (BESS) on the premises of its power projects across India.
According to a study, the cost for storage was estimated at USD 203/kWh in 2020 which will come down to USD 134/kWh in 2025.
