ReNew Power ties up with Stanford's 'StorageX' initiative
ReNew Power, a leading renewable energy company in India announced a collaboration agreement with the Precourt Institute for Energy at Stanford University and its StorageX Initiative ("StorageX") on Tuesday, June 8.
Precourt Institute for Energy's 'StorageX' is an academic-industry government initiative that aims to solve the most pressing real-world challenges in battery storage.
"ReNew's collaboration with StorageX will focus initially on challenges surrounding grid-level battery usage and performance in India, with an eye toward optimizing the performance of storage assets, and ultimately driving stable and firm power delivery to the grid" ReNew said in an official statement.
The collaboration will initially focus initially on large-scale battery performance in India and also assist ReNew in optimizing its storage solutions.
Grid-scale battery storage is crucial for firm and reliable energy in the long term from grid-integrated renewable energy sources. It also plays a crucial role in ensuring reliable power from renewable sources during peak and off-peak hours which is critical to power DISCOMs' plans to meet obligations for purchasing renewable power.
Speaking about the new affiliate relationship Founder, Chairman, and CEO of ReNew Power, Mr. Sumant Sinha said, "The collaboration with Stanford's StorageX Initiative will broaden ReNew's field of vision and help us in recognizing promising new technologies quickly. Reliable renewable power generation in India is critical to meeting the government's goal of putting 450 gigawatts of renewable power online by 2030."
"ReNew is proud to work with Stanford's Precourt Institute for Energy in ensuring that economical and efficient energy storage technologies become critical in reducing the intermittency of renewable power in countries around the world."
ReNew Power, in January 2020, bid on and won a 300 MW project awarded by the Solar Energy Corporation of India (SECI). It is India's first auction for renewable power generation combined with energy storage for guaranteed peak power supply capability.
Additionally, it has also won a tender (held in May 2020) to provide 400 MW of "Round-the-Clock" (RTC) power, through renewable sources.
This was India's first to require "Round-the-Clock" reliable power generation from renewable sources. This project will use a combination of wind and solar renewable generation assets, along with storage technology, to provide annual capacity utilization of 80% approximately double that of regular renewable energy generation projects, ReNew said in a statement.