CESC Ltd. to Develop 300 MW Solar PV Project under SECI's 2,000 MW ISTS-Connected Solar Initiative

Strategic Insights -

Purvah Green Power Pvt Ltd, a subsidiary of leading power utility CESC Ltd, has received a Letter of Award (LoA) from the Solar Energy Corporation of India Ltd (SECI) for the development of a 300 MW solar power project integrated with an energy storage system. This project is part of SECI's 2,000 MW ISTS-connected solar initiative, aimed at enhancing grid stability and renewable energy capacity in India. The solar power project will be developed under the Guidelines for Tariff-Based Competitive Bidding Process for Procurement of Firm and Dispatchable Power from Grid-Connected Renewable Energy Power Projects with Energy Storage Systems.

Key Takeaways:

  • The 300 MW solar power project will be developed by Purvah Green Power Pvt Ltd, a subsidiary of CESC Ltd, and will be integrated with an energy storage system.
  • The project falls under SECI's 2,000 MW ISTS-connected solar initiative, aimed at enhancing grid stability and renewable energy capacity in India.
  • The project will be developed under the Guidelines for Tariff-Based Competitive Bidding Process for Procurement of Firm and Dispatchable Power from Grid-Connected Renewable Energy Power Projects with Energy Storage Systems.
  • The project has been awarded under the Tariff-Based Competitive Bidding Process, with a tariff of Rs 2.86 per kWh for a period of 25 years.
  • The solar power project will be entirely domestic in nature and does not fall under the scope of related-party transactions, reaffirming the transparency and independence of the project's financial structure.
  • The development of this 300 MW solar project further strengthens CESC Ltd's position in India's growing renewable energy market.
  • The integration of an energy storage system will enhance the flexibility and reliability of power delivery from the project, making it a dispatchable power source.

Statistics:

  • 300 MW: The capacity of the solar power project awarded to Purvah Green Power Pvt Ltd.
  • Rs 2.86 per kWh: The tariff agreed upon for the project for a period of 25 years.
  • 25 years: The duration of the long-term contract for the project.
  • 2,000 MW: The total ISTS-connected solar capacity under SECI's initiative.
  • 1,000 MW/4,000 MWh: The additional energy storage capacity to be deployed across India under SECI's initiative.
  • June 2023: The month when the Ministry of Power issued the Guidelines for Tariff-Based Competitive Bidding Process.

Sources:

  • "CESSC Ltd. to develop a 300 MW solar PV project under SECIs 2,000 MW ISTS-connected solar initiative" (no date).
  • "Guidelines for Tariff-Based Competitive Bidding Process for Procurement of Firm and Dispatchable Power from Grid-Connected Renewable Energy Power Projects with Energy Storage Systems" (June 2023).