Key Power Sector News Roundup for September 19, 2024

Power Bytes

Union Cabinet Approves Rs 91.97 Billion Bio-RIDE SchemeIndia’s Union Cabinet has greenlit the Bio-RIDE initiative to drive biotechnology and biomanufacturing innovation with a budget of Rs 91.97 billion. The scheme aims to boost India’s bioeconomy, particularly in healthcare, agriculture, and clean energy sectors. Inox Wind Secures 550 MW Wind ProjectInox Wind has won a 550 MW wind project from IGREL Renewables, expanding its order book to over 3.5 GW. The project will be developed across…

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JSW commissions 300 MW wind power plant in Tamil Nadu

India, News

JSW Renew Energy Two, a subsidiary of JSW Energy, has commissioned the 300 MW wind power plant at Tuticorin, Tamil Nadu. The inter-state transmission system (ISTS) project, awarded by the Solar Energy Corporation of India (SECI) under Tranche-X, is the company’s first greenfield wind power plant for SECI. An additional 150 MW of wind capacity under SECI Tranche-X, located at Dharapuram, is also nearing completion, with 138 MW already operational. With this, JSW Energy’s total…

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Reliance Power wins 500 MW Battery Energy Storage contract from SECI

India, News

Reliance Power has secured a contract from the Solar Energy Corporation of India (SECI) to establish a 500 MW/1000 MWh Battery Energy Storage System (BESS). Awarded through a tariff-based competitive bidding (TBCB) process, the standalone BESS will operate on a build, own, and operate (BOO) model for ‘on demand’ usage, marking the company’s entry into the renewable energy and storage sector. Reliance Power will oversee the entire project, including land identification, installation, approvals, and interconnection…

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REC signs MoUs worth Rs 1.12 trillion at RE-Invest

India, News

REC participated in the Global Renewable Energy Investors Meet & Expo (RE-INVEST 2024) in Gandhinagar, Gujarat, from September 16-18, 2024. The company signed non-binding memorandums of understanding (MoUs) with renewable energy developers, totalling approximately Rs 1,120 billion, to be implemented over the next five years. These MoUs encompass a wide range of projects, including solar and wind hybrid projects, round-the-clock (RTC) renewable power, firm and dispatchable renewable energy (FDRE), floating solar plants, hydroelectric power projects,…

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Grenergy strengthens partnership with BYD to enhance storage system supply in Chile

Global, News

Spanish renewable energy company Grenergy has renewed its agreement with BYD to supply large-scale storage systems for the Oasis de Atacama solar-battery hybrid project in Chile, bringing the total storage capacity to 3 GWh—BYD’s largest agreement to date. The extended deal includes BYD’s MC Cube storage systems for Grenergy’s 200 MW Victor Jara project, with 537 containers set to arrive at the site in the second quarter of 2025. This storage capacity is equivalent to…

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Torrent Power commits Rs 640 billion for green energy expansion

India, News

Torrent Power has announced plans to invest more than Rs 640 billion in green energy capacities, with two major commitments made at the RE-Invest event in Gandhinagar, Gujarat, on September 16, 2024. The company pledged to achieve 10 GW of installed renewable energy capacity by 2030, requiring an investment of Rs 570 billion. This project is expected to generate employment for approximately 25,000 people. As part of this commitment, Torrent Power signed an MoU with…

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PGCIL wins bid for Jam Khambhaliya augmentation scheme

India, News

Power Grid Corporation of India Ltd (PGCIL) has been awarded the letter of intent for the Jam Khambhaliya augmentation scheme under the tariff-based competitive bidding (TBCB) route. The project involves establishing an interstate transmission system for the “Augmentation of transformation capacity at Jam Khambhaliya PS (GIS)” on a build, own, operate, and transfer (BOOT) basis. The letter of intent was received by PGCIL on September 12, 2024. The Jam Khambhaliya augmentation project, estimated to cost…

How Himachal Pradesh reduced its electricity procurement cost?

Power 101

Himachal Pradesh has long been recognized for its abundant natural resources, particularly its potential for hydroelectric power generation. Despite this, the state faced challenges related to high electricity procurement costs. However, in recent years, Himachal Pradesh has reduced its electricity procurement cost from over Rs 9 per unit to approximately Rs 5.25 per unit. This significant reduction is a result of strategic decisions, policy reforms, and effective resource management. Here’s an in-depth look at how…

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PGCIL, Adani qualify for Jam Khambhaliya Pooling Station augmentation bids

India, News

Power Grid Corporation of India Ltd (PGCIL) and Adani Energy Solutions Ltd (AESL) have qualified to open initial price bids for the Jam Khambhaliya Pooling Station augmentation scheme in Gujarat. PFC Consulting Ltd (PFCCL) is coordinating the bidding process under the ISTS scheme, “Augmentation of transformation capacity at Jam Khambhaliya PS (GIS),” which could progress to an e-reverse auction (e-RA) based on initial bids. The winner will be chosen through final price bids from the…

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Australian CIS boosts energy storage with six large-scale battery projects

Global, News

The Australian Capacity Investment Scheme (CIS) is set to enhance energy storage capabilities in Victoria and South Australia through support for six new large-scale battery projects. These initiatives will add 3.6 gigawatt hours (GWh) of capacity. In Victoria, EnergyAustralia will manage the 350 MW Wooreen lithium-ion battery system at the Jeeralang power station site, and Project Power will develop the 115 MW Springvale Energy Hub on a former landfill site in Melbourne. South Australia will…