Sterlite Power has announced venturing into grid connected battery energy storage systems (BESS). The company has submitted bids for two storage projects in the recently concluded auction of Salt River Project utility.
As renewable energy's share in the energy mix grows, grids are required to adapt to be able to balance conventional and renewable power sources. BESS solutions are needed for a seamless and reliable transition as they can provide critical services like peak load shaving, energy and ancillary services that will be increasingly needed in a renewable-heavy grid.
According to Sterlite Power, grid connected BESS are rapidly achieving commercially viability for utilities around the world as total system costs have dropped approximately 60 per cent over the last 5 years.
“Battery Energy Storage Systems are critical to realize the renewable revolution underway across the world, in a reliable manner. With their costs falling rapidly, we believe that these systems would form an integral part of grid planning and buildouts going forward, Pratik Agarwal, Group CEO, Sterlite Power, said.
He added that company's foray into grid connected battery storage will allow it to stay ahead of this technology’s adoption and continue to empower humanity by providing reliable access to power.