Torrent Power Ltd has received a letter of award from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for long-term supply of 2,000 Megawatt (MW) energy storage capacity from InSTS Connected Pumped Hydro Storage Plant, the company said in a release on Tuesday.
This 2,000 MW capacity is inclusive of 1,500 MW capacity for which the Letter of Intent was already issued by MSEDCL on September 17. The company has now received allotment of additional 500 MW capacity under the tender, taking the total capacity allocated to 2,000 MW.
The State distribution company will procure energy storage capacity from Torrent Power’s InSTS Connected Pumped Hydro Storage for a period of 40 years. The company also plans to supply the storage capacity from its upcoming InSTS Connected Pumped Hydro Storage plant being set up in Maharashtra. Under the Energy Storage Facility Agreement (ESFA), the company shall make available to MSEDCL a contracted capacity of 2,000 MW capable of scheduled discharge of 8 hours (with maximum continuous 5 hours) per day. The input energy for charging shall be provided by MSEDCL.
Considering the growing need for energy storage solutions with increased penetration of solar and wind electricity generation capacities, Torrent Power stands committed to providing firm, reliable and dispatchable renewable energy power, it said. As part of this, Torrent Power has identified Pumped Storage Project (PSP) sites in multiple States, besides Maharashtra. The company has already announced its intentions to install about 5 to 8 GW of PSP capacity entailing investment of ₹25,000 to ₹35,000 crore.