Singapore-based engineering firm Sembcorp has received a letter of award from Indian public sector power company SJVN for 150MW of solar power and a 300MWh battery energy storage system (BESS).
The firm was one of the successful bidders in SJVN’s latest tender, which concluded earlier this month, with 1,200MW of solar generation capacity and 600MW/2,400MWh of battery energy storage up for grabs.
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Sembcorp said the project was its second solar-storage hybrid project in India and would increase its total renewable energy capacity in the country to 6.3GW. Globally, Sembcorp’s total renewable energy portfolio now stands at 17.7GW, including projects still under development.
According to Sembcorp, the project is expected to begin commercial operations within 24 months after the power purchase agreement (PPA) is signed. It will be financed using a combination of internal funds and borrowed capital.
The SJVN tender was first announced last September, inviting bids for solar-plus-storage projects to connect to India’s interstate transmission system (ISTS).
Reliance NU Energies, a subsidiary of Reliance Power, emerged as the biggest winner, securing 350MW of solar and a 175MW/700 MWh BESS in the bidding. Currently, the company’s renewable energy portfolio stands at 2.5GWp of solar power and over 2.5GWh of battery energy storage. This expansion will add 600MWp of solar power and 700MWh of energy storage to Reliance Power’s portfolio.
A total of 19 companies took part in the SJVN tender, which was oversubscribed by over four times. Other companies that were successful in the SJVN tender included SAEL Industries, Jindal India Renewable Energy, JBM Renewables and Fastnote Fuels (also known as Hindustan Power). Prices in the auction ranged from INR3.32 to 3.33.
The awarded projects must provide at least four hours of power supply every day, ensuring reliable peak power for state electricity companies (Discoms). It will be built, owned and operated by the developer following the build-own-operate (BOO) framework guidelines prescribed by India’s Ministry of Power.
