IndiGrid bags battery energy storage project in Gujarat

New Delhi: Infrastructure investment trust (InvIT) IndiGrid on Thursday said it has bagged a 180 MW/360 MW battery energy storage system project in Gujarat.

The letter of intent (LoI) for the project has been awarded by Gujarat Urja Vikas Nigam Limited (GUVNL), the InvIT said in a statement.

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The contract includes the design, supply, test, install, commission, operate and maintain a 180 MW/360 MWh battery energy storage system (BESS) project in Gujarat.

An energy storage system of 180 MW/360 MWh means 2 hours of energy at the capacity of 180 MW.

The project will be grid-connected and collocated in the Gujarat Energy Transmission Corporation Limited (GETCO) sub-station.

IndiGrid emerged as the second lowest bidder in the reverse auction process conducted by GUVNL, winning 180 MW/ 360 MWh by quoting a fixed tariff of Rs 4,49,996 per MW per month, which translates to an annual tariff of over Rs 97 crore, the statement said.

The project is awarded through tariff-based competitive bidding (TBCB) mechanism and will be developed on a build, own, and operate (BOO) basis for 12 years. Further extension of the project is possible on a mutually agreeable basis.

IndiGrid did not provide any financial details of the project.

It holds the distinction of being the first infrastructure investment trust (InvIT) in the domestic power sector. It owns 36 power projects, consisting of 46 transmission lines with more than 8,468 circuit kilometres length, and 13 substations with 17,550 mega volt amp transformation capacity.

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