TrueRE Oriana Power has secured two contracts from Maharashtra State Electricity Distribution Co. Ltd.(MSEDCL) to set up a combined 900 MW/1,800 MWh of battery energy storage system (BESS) capacity across the Indian state of Maharashtra. The projects carry an aggregate consideration of around INR 3,870 crore over a 15-year term, excluding GST.
The awarded capacity includes a standalone 500 MW/1,000 MWh BESS project at MSETCL substations, at a tariff of INR 2,38,000/MW/month, and a 400 MW/800 MWh BESS at MSEDCL substations, at a tariff of INR 2,40,000/MW/month, under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0) – Maharashtra’s flagship scheme for decentralized solarization of agricultural feeders.
TrueRE Oriana Power secured the capacity through a tariff-based global competitive bidding process followed by e-reverse auction. The projects are eligible for Viability Gap Funding (VGF) support under the Power System Development Fund (PSDF) scheme. The company expects VGF of approximately INR 3.24 billion, based on the current estimated project cost.
The projects will operate under battery energy storage purchase agreements (BESPAs) for 15 years from their respective commercial operation dates. The scheduled commissioning dates will be determined in accordance with the respective BESPAs, which are yet to be executed.
From pv magazine India
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