India awards long-duration energy storage contracts for 1,344MW pumped hydro, utility-scale flow battery

Greenko bid for 720MW capacity and won the full amount. Torrent Energy Storage Solutions bid for 300MW and got the full amount, while Tata Power bid for 660MW but was awarded 324MW.

SECI calculated the annual fixed charges for Tata Power’s e-Reverse Auction bid at INR10,841,826.5/MW/Annum (US$112,662.41/MW/Annum) and total storage cost at INR13,510,000/MW/Annum.

For Greenko’s bid, the annual fixed charge equivalent was INR10,967,479.7/MW/Annum and total storage cost INR13,490,000.

For Torrent Energy Storage Solutions’ bid, SECI calculated the equivalent annual fixed charge at INR10,975609.8/MW/Annum and the total storage cost at INR13,500,000/MW/Annum.

Project developers are awarded their contracts on a ‘build, own, operate’ basis.