Reliance Power Secures Landmark Battery Storage Contract

Reliance Power has secured a 500 MW battery storage contract via SECI's e-reverse auction. The new tariff of Rs 3.81999 lakh/MW/month sets a benchmark, emphasizing the company's shift towards renewable energy. The project, involving 1,000 MW standalone BESS units, is set for completion within 24 months.

Reliance Power on Monday announced that it has secured a significant 500 MW battery storage contract through the e-reverse auction (eRA) conducted by the Solar Energy Corporation of India (SECI).

The auction, held on September 11, 2024, is part of SECI's initiative to enhance energy storage capabilities nationwide. The contract involves installing 1,000 MW of standalone BESS units, awarded on a build-own-operate (BOO) model for 'On Demand' usage under a tariff-based competitive bidding process. Reliance Power's successful bid of Rs 3.81999 lakh/MW/month marks one of the lowest rates for BESS tenders at the 400 KV level in India to date.

The delivery point for the project is 400 kV Fatehgarh(ATL) PS, Rajasthan, with a scheduled commissioning date 24 months from the effective date of the Battery Energy Storage Purchase Agreement (BESPA). The auction process witnessed participation from several key industry players. Reliance Power's strategic shift towards renewable energy and storage solutions promises increased competition and efficiency in the sector. The introduction of competitive tariffs is expected to set new standards and drive further advancements in India's energy storage capabilities.

(With inputs from agencies.)