State-owned Solar Energy Corporation of India (SECI) is considering setting up a 2000 MWh standalone energy storage system that will be carried out by the private sector. The corporation added that the projects be set up on a build-own-operate (BOO) basis with a 25-year agreement.

“SECI has initiated a project for a 2,000 MWh standalone energy system. The detailed tender will be floated by August-end,” sources close to the developments told the Economic Times.

They added that the SECI will issue a notice for a request for selection and further affirmed the plans to round up an agreement for 25 years with the successful bidders according to the terms, conditions, and provisions.

Notably, India has embarked upon its ambitious renewable energy targets of 175 GW, 275 GW, and 450 GW by 2022, 2027, and 2030 respectively.

These objectives are primarily concerned with solar and wind sources though the capacity value of variable renewable energy sources remains restricted in the absence of grid-scale energy storage.

On similar lines, along with the aforementioned plans of SECI, even the NTPC Ltd has called for expressions of interest from both domestic and international companies for the purpose of 1,000 MWh of grid-connected battery energy storage system (BESS) to be set up on the premises of its power projects across the country.

Source: News Yahoo