Latest news with #BESPA
The Hindu
5 days ago
- Business
- The Hindu
ACME Solar signs agreements with NHPC for setting up two battery energy storage system projects in Andhra Pradesh
ACME Solar Holdings, through its wholly owned subsidiaries, has signed Battery Energy Storage Purchase Agreements (BESPA) with NHPC Ltd. for setting up two standalone Battery Energy Storage System (BESS) projects in Andhra Pradesh with a total capacity of 275 MW/550 MWh. The projects were awarded through an e-reverse auction held late last month at tariffs of ₹2,10,000 per MW per month for 50 MW/100 MWh and ₹2,22,000 per MW per month for 225 MW/450 MWh. The projects will be implemented under the Government of India's Viability Gap Funding (VGF) scheme, which provides financial support of ₹27 lakh per MWh or up to 30% of the total project cost, whichever is lower. Expected to be commissioned within 18 months from signing, the BESS projects will help stabilise the grid by storing power during off-peak hours and discharging it during peak demand. They are also expected to enhance the integration of renewable energy sources like solar and wind, which are inherently intermittent. The initiative is a significant step in India's energy transition, introducing a pioneering 'BESS-as-a-Service' model where capacity charges are payable for storage services, setting a new benchmark for future storage deployments in the country.
Business Standard
5 days ago
- Business
- Business Standard
Tata Power Renewable Energy inks its maiden BESPA with NHPC
Tata Power Renewable Energy (TPREL), a subsidiary of Tata Power Company, has signed its first Battery Energy Storage Purchase Agreement (BESPA) with NHPC. The project, secured under NHPC's BESS Tranche-I tender through a competitive bidding route for Kerala State Electricity Board Limited being the end user of the Battery Energy Storage System (BESS) asset, involves setting up a 30 MW / 120 MWh battery storage system at the 220 kV substation in Area code, Kerala. The project will play a vital role in addressing peak power demand, enhancing grid flexibility, and enabling seamless integration of renewable energy in Kerala. It is part of NHPC's broader initiative to develop 125 MW / 500 MWh of standalone battery storage capacity in the state of Kerala, under a Tariff-Based Competitive Bidding framework supported by Viability Gap Funding. The initiative supports the Government of India's goal of achieving 500 GW of non-fossil fuel capacity by 2030. Implemented under Ministry of Power guidelines, the project will operate under a 12-year BESPA. The project is slated for commissioning within 15 months, positioning storage as a key enabler of round the-clock renewable power and grid resilience. In addition to this upcoming project, TPREL is already operating a Solar and BESS project in Rajnandgaon, Chhattisgarh. This project comprises a 100 MW solar photovoltaic plant integrated with a 120 MWh utility scale BESS, developed under an EPC contract awarded by the Solar Energy Corporation of India. The project with NHPC marks TPREL's first win in the standalone BESS segment, reinforcing its commitment to delivering cutting-edge, dispatchable, and sustainable energy solutions. With this addition, TPREL's total renewable capacity now stands at approximately 10.9 GW, including 5.6 GW of operational projects, comprising 4.6 GW of solar and 1 GW of wind, and 5.3 GW under various stages of development.
Mint
5 days ago
- Business
- Mint
ACME Solar signs a battery energy storage purchase agreement with NHPC: Details here
Stock Market Today: ACME Solar on Friday announced having signed a battery energy storage purchase agreement with NHPC. ACME Solar Holdings Limited on Friday, 18 July 2025, announced having signed a battery energy storage purchase agreement with NHPC. The agreement with NHPC is for a total contracted capacity of 275 MW / 550 MWh As per the release by ACME Solar on the National Stock Exchange of India and the BSE, or the Bombay Stock Exchange, 'ACME Solar Holdings, through its wholly owned subsidiaries, has signed Battery Energy Storage Purchase Agreements (BESPA) with NHPC for a total contracted capacity of 275 MW/550 MWh across two Standalone Battery Energy Storage System (BESS) projects.' The projects were secured at ₹ 2,10,000 per MW per month for 50MW/100MWh and ₹ 2,22,000/MW/month for 225 MW/450 MWh through an e-reverse auction on June 24, 2025. Letters of Award (LOA) for these projects were issued on July 8, 2025. The projects are under the Government of India's Viability Gap Funding (VGF) plan, which provides ₹ 27 lakh per MWh or 30% of the total project cost, whichever is lower. The customer's identification as Andhra Pradesh facilitated a smooth transition from LOA to BESPA signing. These groundbreaking projects in Andhra Pradesh are set to be operational within 18 months after signing the BESPA. Establishing the standalone BESS installation at the customer's site, with their own land and evacuation infrastructure, will speed up project execution. ACME Solar Holdings is a prominent integrated renewable energy player with a diverse portfolio of 6,970 MW and 550 MWh across solar, wind, and storage. ACME Solar share price opened at 280.25, slightly higher than the previous day's closing price of ₹ 278.60. The ACME Solar share price, though, hit intraday highs of ₹ 287 and also dipped to lows of ₹ 274.50 amid weakness in the Indian stock Market when the benchmark indices also slipped more than 0.5% The ACME Solar share price, however, is inching close to 52-week highs of ₹ 30144.15 and has rebounded well from 52 week low of ₹ 167.55 in January 2025. Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Standard
5 days ago
- Business
- Business Standard
Tata Power's subsidiary inks battery energy storage purchase agreement from NHPC
Tata Power Company said that Tata Power Renewable Energy (TPREL) has signed its first battery energy storage purchase agreement (BESPA) with NHPC. Tata Power Renewable Energy is a subsidiary of The Tata Power Company. The project, secured under NHPCs BESS Tranche-I tender through a competitive bidding route for Kerala State Electricity Board Limited being the end user of the battery energy storage system (BESS) asset, involves setting up a 30 MW / 120 MWh battery storage system at the 220 kV substation in Area code, Kerala. The project will play a vital role in addressing peak power demand, enhancing grid flexibility, and enabling seamless integration of renewable energy in Kerala. It is part of NHPCs broader initiative to develop 125 MW / 500 MWh of standalone battery storage capacity in the state of Kerala, under a tariff-based competitive bidding framework supported by viability gap funding. In addition to this upcoming project, TPREL is already operating a solar and BESS project in Rajnandgaon, Chhattisgarh. This project comprises a 100 MW solar photovoltaic plant integrated with a 120 MWh utility-scale BESS, developed under an EPC contract awarded by the Solar Energy Corporation of India. With the addition of the NHPC project, TPREL's total renewable capacity now stands at approximately 10.9 GW, including 5.6 GW of operational projects, comprising 4.6 GW of solar and 1 GW of wind, and 5.3 GW under various stages of development. Tata Power Company is a leading integrated power company. The company's consolidated net profit jumped 16.49% to Rs 1,042.83 crore on a 7.88% increase in revenue from operations to Rs 17,095.88 crore in Q4 FY25 over Q4 FY24. The scrip fell 1.11% to currently trade at Rs 408.65 on the BSE.
Time of India
5 days ago
- Business
- Time of India
ACME Solar Holdings bags 275 MW/550 MWh battery energy storage projects from NHPC
ACME Solar Holdings has bagged two battery energy storage projects totalling 275 MW/550 MWh from state-owned NHPC . "The projects have been secured at a tariff of Rs 2,10,000/MW/month for 50MW/100MWh and Rs 2,22,000/MW/month for 225MW/450MWh through e-reverse auction held on June 24, 2025," ACME Solar Holdings said in a statement. Explore courses from Top Institutes in Select a Course Category MBA CXO Others Leadership Degree PGDM Technology Data Science Public Policy Project Management others Management MCA Cybersecurity Digital Marketing Artificial Intelligence Data Analytics Operations Management healthcare Healthcare Design Thinking Finance Product Management Data Science Skills you'll gain: Analytical Skills Financial Literacy Leadership and Management Skills Strategic Thinking Duration: 24 Months Vellore Institute of Technology VIT Online MBA Starts on Aug 14, 2024 Get Details Skills you'll gain: Financial Management Team Leadership & Collaboration Financial Reporting & Analysis Advocacy Strategies for Leadership Duration: 18 Months UMass Global Master of Business Administration (MBA) Starts on May 13, 2024 Get Details The projects are covered under the viability gap funding scheme of the Government of India, wherein Rs 27 lakh per MWh or 30 per cent of the total project cost, whichever is lower is provided as VGF. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads Get Quote Undo "ACME Solar Holdings through its wholly owned subsidiaries have signed Battery Energy Storage Purchase Agreements ( BESPA ) with NHPC for a total contracted capacity of 275 MW/550 MWh across two Standalone Battery Energy Storage System (BESS) projects," ACME Solar Holdings -- a leading integrated renewable energy player -- said.
