IndiGrid awarded 180 MW/360 MWh battery storage project by GUVNL

IndiGrid announced this week that it has received Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Ltd (GUVNL) to design, supply, test, install, commission, operate and maintain a 180 MW/360 MWh battery energy storage system (BESS) in Gujarat.

This project is part of a larger 250 MW/500 MWh BESS, envisaged by GUVNL, to bolster the overall energy storage capacities of the state and provide renewable energy during both peak and off-peak hours. Considering that this project will be grid connected and collocated in GETCO sub-station, it will be classified as part of transmission system.

IndiGrid emerged as the second lowest bidder in the reverse auction process conducted by GUVNL, winning 180 MW/360 MWh by quoting a fixed tariff of INR 449,996 per MW per month, which translates to an annual tariff of over INR 97 crore. It will develop the project on a build-own-operate (BOO) basis for a period of 12 years. Further extension of the project is possible on a mutually agreeable basis.

Over the last year, IndiGrid has made investments to strengthen its expertise in developing and managing BESS projects by undertaking pilot projects at its own sites. This is the second BESS win for the company in the last six months.

IndiGrid is the first Infrastructure Investment Trust (InvIT) in the Indian power sector. It owns 36 power projects, consisting of 46 transmission lines with more than 8,468 ckms length, 13 substations with 17,550 MVA transformation capacity and 855 MW AC (1.1 GWp) of solar generation capacity. IndiGrid has assets under management (AUM) of over $3.4 billion. The investment manager of IndiGrid is wholly owned by KKR.