TrueRE Oriana Power Wins INR 3,870 Crore Maharashtra BESS Orders

TrueRE Oriana Power, an integrated renewable energy companies delivering clean energy solutions across the value chain, has secured two Letters of Award (LOAs) from Maharashtra State Electricity Distribution Company (MSEDCL) for setting up an aggregate 900 MW / 1,800 MWh Battery Energy Storage System (BESS) capacity across Maharashtra. The two awards carry an aggregate consideration of approximately INR 3,870 crore over a 15-year term, excluding GST.

The project has been split into two components. The first is a standalone BESS project of 500 MW / 1,000 MWh at MSETCL substations, at a tariff of INR 2,38,000/MW/month. The second is a 400 MW / 800 MWh BESS at MSEDCL substations, at a tariff of INR 2,40,000/MW/month, awarded under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0), which is Maharashtra's flagship scheme for decentralised solarisation of agricultural feeders. 

Commenting on the win, Rupal Gupta, Founder, MD and CEO, TrueRE Oriana Power, said, “As India’s power system integrates increasing volumes of renewable energy, storage will play a critical role in improving flexibility, reliability and the ability to match generation with demand. The award of 900 MW / 1,800 MWh of BESS capacity by MSEDCL marks an important milestone in TrueRE Oriana Power’s journey. This new win reflects our capabilities in the renewable energy and energy storage value chain and will further strengthen our presence in the utility-scale BESS segment. We have a disciplined project selection approach that supports sustainable growth, healthy operational profitability and a strong portfolio of projects on the ground that boost our long-term growth trajectory.”

The awards were secured through a tariff-based global competitive bidding process and e-reverse auction, with Viability Gap Funding (VGF) support under the Power System Development Fund (PSDF) scheme. The company expects VGF of approximately IN 324 crore, based on the current estimated project cost.

The projects will operate under Battery Energy Storage Purchase Agreements (BESPAs) for 15 years from their respective Commercial Operation Dates. The scheduled commissioning dates will be determined in accordance with the respective BESPAs, which are yet to be executed.

The awards also provide a platform for TrueRE Oriana Power to deepen its capabilities in the development, deployment and operation of grid-scale storage assets. With renewable energy increasingly becoming an integral part of India’s electricity mix, TrueRE Oriana Power remains focused on developing solutions that can support the next phase of the country's energy transition through generation, storage and integrated energy infrastructure.