Greenko Group emerged as the lowest bidder in perhaps the world’s first and largest technology agnostic storage tender for 3000 MWh from NTPC Renewable Energy Limited (NTPC REL), the renewable arm of NTPC Limited, India’s largest power generation company.
Greenko Group is developing the World’s largest energy storage platform based on pumped storage technology (PSP) and has projects totalling 50 GWh storage capacity already
The tender provisions for supply of 500 MW/ 3000 MWh (6 hours storage) standalone storage capacity on long term basis (25 years) to NTPC REL.
NTPC REL is understood to utilize the storage capacity for its carbon free power supply solutions like supply of round-the-clock power to utilities and industrial customers.
The tender saw participation from multiple technologies like Li-Ion Battery, Na-S Battery, Pumped Storage Project and Compressed Air Storage technology.
This storage tender is an inflection point in the global energy transition journey as it establishes model for procurement of long duration energy storage capacity by RE Generators and utilities for
creating decarbonized power supply solutions to meet the net-zero requirements of the nation.
The tender also establishes Pumped Storage technology as the preferred and lowest cost long duration energy storage solution.
The winning bid translates into unit storage charges of ~USD/MWh 58 on a single cycle per day basis, a remarkable feat in view of the storage charges discovered in another recent energy storage
procurement tender based on battery energy storage systems by SECI (~USD/MWh 120). Taking in account the fact that PSP can deliver more than one cycle per day without any impact on the performance, effective storage charges can be significantly lower (~USD/MWh 29).
It also underlines the approach of Greenko Group towards creation of robust and deep storage market in India.
The storage solution provided by Greenko is also unique as it has minimal/ no long-term environmental impact over the entire life cycle and Scope 2/3 emissions are fully quantifiable as compared to other competing energy storage technologies. PSP is also unique in terms of being indigenous thereby delivering on the government’s initiative of ‘Make in India’ and ‘Aatmanirbhar Bharat’.