4,000 MWh Battery System Set to Cut 1.3 MMT of CO2 Annually: Union Minister
The scheme, slated for approval over a three-year period from 2023-24 to 2025-26, will see the disbursement of funds in five tranches extending up to the fiscal year 2030-31.
December 06, 2023. By Abha Rustagi
The scheme, slated for approval over a three-year period from 2023-24 to 2025-26, will see the disbursement of funds in five tranches extending up to the fiscal year 2030-31. The announcement was made by the Union Minister for Power and New and Renewable Energy, R.K. Singh in a written reply to a question posed in the Rajya Sabha on December 5, 2023.
Underlining the government's commitment, Singh, announced that the Central Government would provide VGF up to 40 percent of the capital cost for BESS. The selection of public and private sector entities for BESS development will be conducted through a competitive bidding process overseen by the Implementing Agency as per the Scheme and Bidding Guidelines.
Anticipating a capital cost ranging from INR 2.40 to INR 2.20 Crore/MWh during the development period, the total investment for the 4,000 MWh BESS capacity is estimated at INR 9,400 Crores, with a significant budgetary support of INR 3,760 Crores.
One of the key environmental benefits of this initiative is the expected annual reduction of approximately 1.3 million metric tons of carbon emissions, assuming the charging of BESS with renewable energy (RE).
Furthermore, the BESS capacity of 4,000 MWh will contribute to an enhanced availability of up to 4,000 MWh of energy during peak hours. This energy can be efficiently utilized by distribution companies (Discoms) and other beneficiaries, tailoring to their specific usage patterns.
please contact: contact@energetica-india.net.
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