TrueRE Oriana Power Limited has secured two Letters of Award (LOAs) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the development of an aggregate 900 MW/1,800 MWh of Battery Energy Storage System (BESS) capacity across Maharashtra.
The two projects have an aggregate consideration of approximately ₹3,870 crore over a 15-year period, excluding GST, strengthening the company’s presence in India’s utility-scale energy storage market.
The awarded capacity is divided into two projects. The first involves the development of a standalone 500 MW/1,000 MWh BESS at Maharashtra State Electricity Transmission Company Limited (MSETCL) substations at a tariff of ₹2,38,000 per MW per month.
The second project comprises 400 MW/800 MWh of BESS capacity at MSEDCL substations at a tariff of ₹2,40,000 per MW per month. This capacity has been awarded under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0), Maharashtra’s programme focused on decentralised solarisation of agricultural feeders.
Rupal Gupta, Founder, Managing Director and CEO of TrueRE Oriana Power, said the increasing integration of renewable energy into India’s electricity system is creating a greater need for energy storage to improve grid flexibility and reliability while helping balance electricity generation with demand.
Gupta said the award of 900 MW/1,800 MWh of BESS capacity represents an important milestone for the company and is expected to further strengthen its position in the utility-scale battery storage segment.
The projects were awarded through a tariff-based global competitive bidding process followed by an e-reverse auction. They will also receive Viability Gap Funding (VGF) support under the Power System Development Fund (PSDF) scheme.
TrueRE Oriana Power expects to receive approximately ₹324 crore in VGF support based on the projects’ current estimated costs.
The storage facilities will operate under Battery Energy Storage Purchase Agreements (BESPAs) for a period of 15 years from their respective Commercial Operation Dates. The scheduled commissioning timelines will be determined under the respective BESPAs, which are yet to be executed.
The awards are expected to expand TrueRE Oriana Power’s capabilities in developing, deploying and operating grid-scale energy storage infrastructure. As renewable energy accounts for a growing share of India’s electricity system, large-scale battery storage is expected to play an increasingly important role in supporting grid stability and the integration of variable renewable generation.
TrueRE Oriana Power said it will continue focusing on generation, storage and integrated energy infrastructure as part of its participation in India’s energy transition.
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