Report: Energy Storage Vital for India's Renewables

Envision Energy & Hero Future Energies Partner for Renewables

In a significant move towards bolstering renewable energy endeavors, Envision Energy and Hero Future Energies have sealed a comprehensive framework agreement aimed at fostering collaboration in the renewable energy sector. This strategic partnership encompasses a spectrum of initiatives, including the supply of Wind Turbine Generators (WTGs), Battery Energy Storage Systems (BESS), and Green Hydrogen technologies.

Under the terms of the agreement, Envision Energy is slated to provide 588 MW of 3.3 MW WTGs to Hero Future Energies over the next 1.5 years. These WTGs are anticipated to gene..

RCRSIL to start BESS production with GW capacity in Uttar Pradesh

RCRS Innovations (RCRSIL) announced its intention to start producing Battery Energy Storage Systems (BESS) in a new manufacturing unit by August of the current year. It was stated that the new unit, situated in Uttar Pradesh, would initially have a capacity of one Gigawatt and would manufacture BESS units with storage capacities of 500-kilowatt (KW) and 1,000-kilowatt (1 Megawatt).

It was mentioned that at present, RCRSIL manufactures and markets Lithium-Ion batteries under the EXEGI brand, as well as energy storage systems and solar panels from its facilities in the Delhi-NCR region. ..

GUVNL invites bids for battery energy storage systems

Gujarat Urja Vikas Nigam (GUVNL) has invited bids to set up pilot projects of 250 MW/500 MWh standalone battery energy storage systems (BESS) in Gujarat under tariff-based global competitive bidding (Phase-II).

The last day to submit the bids is January 6, 2023. Bids will be opened on January 10. Bidders must submit a bid processing fee of Rs 1.5 million ($17,993) and an earnest money deposit of Rs 740,000 ($8876)/ MW.

Selected bidders must furnish Rs 50,000 ($6,000)/ MW as a performance bank guarantee before signing the battery energy storage purchase agreement (BESPA).

Adani Energy Acquires Essar's Transmission Assets

Adani Energy has finalised the acquisition of Essar's Mahan and Sipat transmission assets for a sum of Rs 1900 crore. This significant move underscores Adani's strategic expansion within the energy sector and consolidates its position as a key player in India's power transmission domain.

The acquisition of Essar's transmission assets represents a strategic investment for Adani Energy, enabling the company to augment its infrastructure and bolster its transmission network. With the addition of these assets, Adani strengthens its operational footprint, enhancing its capacity to deliver r..

IEX Q4 Net Profit Grows 9.5%

The Indian Energy Exchange (IEX) has reported a significant uptick in its net profit for the fourth quarter, marking a notable growth of 9.5%. This financial performance underscores the resilience and strength of the company's business model in navigating through dynamic market conditions within the energy sector.

The impressive growth in net profit reflects IEX's robust operational performance and effective strategic initiatives aimed at enhancing efficiency and driving sustainable value creation. As a leading power trading platform in India, IEX plays a pivotal role in facilitating t..