In a significant stride towards bolstering energy storage capacities in Gujarat, the Gujarat Urja Vikas Nigam Ltd (GUVNL) has concluded its auction for the development of 250 MW/500 MWh Standalone Battery Energy Storage Systems. This competitive bidding process, held on March 6th, 2024, is a pivotal part of Phase-II under Tariff-Based Global Competitive Bidding. It aims to establish pilot projects adopting a Build-Own-Operate (BOO) framework, marking a notable advancement in the region’s sustainable energy infrastructure.
Emerging as front-runners in this ambitious project, Gensol Engineering Limited and IndiGrid 2 Limited have been awarded contracts to spearhead the project’s execution. Gensol Engineering Limited secured a bid for 70 MW at a tariff of INR 4,489,996, while IndiGrid 2 Limited clinched a bid for the remaining 180 MW, quoting a tariff of INR 4,499,996, which is a marginal 0.22% higher than that of Gensol’s bid.
These successful bidders are now mandated to provide a Performance Bank Guarantee (PBG) of INR 18,50,000 per MW prior to the formalization of the Battery Energy Storage Project Agreement (BESPA). This requirement underscores the commitment and financial backing necessary to ensure the successful implementation and operation of these storage systems.
Launched in November of the previous year, this initiative by GUVNL is a testament to the state’s dedication to embracing renewable energy solutions. It not only aims to enhance the reliability of the power supply in Gujarat but also contributes significantly to the state’s journey towards achieving sustainable development goals.
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