JSW Neo Energy, Reliance Power Win 1,000 MW SECI Battery Storage Project with Record-Low Tariffs Auction

by Psu Connect
Date: 16-09-24

These tariffs reflect a significant 65% reduction compared to SECI’s first standalone BESS tender, which was priced at Rs 10.83 lakh per MW per month.

JSW Neo Energy, Reliance Power Win 1,000 MW SECI Battery Storage Project with Record-Low Tariffs Auction

JSW Neo Energy and Reliance Power have won the auction for the 1,000 MW/2,000 MWh Battery Energy Storage Systems (BESS) project from SECI in India.

JSW Neo Energy secured 500 MW with the lowest tariff of Rs 3.810 lakh per MW per month, while Reliance Power won another 500 MW with the second-lowest tariff of Rs 3.8199 lakh per MW per month.

These tariffs reflect a significant 65% reduction compared to SECI’s first standalone BESS tender, which was priced at Rs 10.83 lakh per MW per month.

The current tariffs also represent a 15% discount compared to Gujarat Urja Vikas Nigam Limited’s (GUVNL) Phase 2 rate of Rs 4.49 lakh and are just 2% higher than the GUVNL Phase 3 tariff of Rs 3.72 lakh.

Once operational, this project is expected to be one of the largest standalone battery energy storage systems globally.

Under this Request for Selection (RfS), the chosen BESS Developer will be responsible for setting up the system, including land identification, installation, and securing necessary approvals for interconnection with the interstate transmission system (ISTS).

While the technology for the storage system is flexible, it must meet the performance requirements outlined in the RfS and Battery Energy Storage Purchase Agreement (BESPA).