India’s 2 GW solar-plus-4 GWh storage tender attracts price of $0.04/kWh

National body the Solar Energy Corporation of India (SECI) has concluded its tender for 2 GW of solar generation capacity and 1 GW/4 GWh of energy storage at a final average price of INR 3.52 ($0.04)/kWh.

The energy storage part of the tender was tacked on as a requirement for developers to secure solar generation capacity with bidders having construct at least 500 kW/2 MWh of storage for every 1 MW of solar they bid for. The storage capacity can be contracted out by the solar developers for provision by third parties but must be charged using solar power.

The Green Energy Ltd business of India’s National Thermal Power Company will have to install at least 250 MW/1 GWh of storage facilities after securing 500 MW of solar capacity for INR 3.52/kWh.

Hero Solar was allocated 270 MW of solar and 135 MW/540 MWh of storage at the same price and Sembcorp and Blupine Energy special purpose vehicle Solarcraft each landed 150 MW of solar and 75 MW/300 MWh of storage for that figure. Reliance Power was allocated the balance of 930 MW of solar and 465 MW/ 1.86 GWh of storage, for INR 3.53/kWh.

The successful bidders will develop the projects on a build, own, operate basis and they can be located anywhere in India but must connect to the interstate electricity transmission system.

SECI will sign 25-year power purchase agreements with the successful bidders.

From pv magazine India.