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BESS turns cheaper: Gensol, IndiGrid win Gujarat's 250 MW auction at ₹ 4.49 lakh / MW per month

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Gensol Engineering and IndiGrid 2 Ltd were declared the winners of Gujarat's auction for the development of 250 MW/ 500 MWh Standalone Battery Energy Storage Systems in the state.

Gensol won 70 MW -- the entire amount it had bid for -- by quoting the lowest bid of Rs 4,48,996/ MW per month, while IndiGrid bagged the remaining 180 MW. The auction, conducted by the Gujarat Urja Vikas Nigam Ltd (GUVNL) on March 6, saw participation from as many as eight players, including private companies and government utilities. The tariff is 58 percent lower than the Rs 10.8 lakh/ MW per month tariff discovered in SECI's 500 MW/ 1,000 MWh auction in 2022.

IndiGrid's bid, at Rs 4,49,996/ MW per month, was a marginal 0.22 percent higher than Gensol's winning submission. JSW Neo, which placed third and missed out, had quoted Re 1 more than IndiGrid at Rs 4,49,997/ MW per month. Both the companies had pitched for the entire 250 MW capacity.

GUVNL will now enter into a battery energy storage purchase agreement with the successful bidders, who will have to install BESS totaling 500 MWh (250 MW x 2 hours) in the state.

The projects will be developed on a build-own-operate (BOO) model with the primary aim of making the storage facility available to GUVNL for charging/ discharging on an "on demand" basis. The BESS will have to be available for two complete charge-discharge cycles per day, and be charged by power from the state's energy transmission utility, GETCO.

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