IndiGrid, Kintech Synergy and HG Infra Engineering Win NVNN’s 500 MW/1000 MWh BESS Auction
IndiGrid 2 Ltd (250 MW), Kintech Synergy Pvt. Ltd. (65 MW) and HG Infra Engineering Ltd. (185 MW) have won NTPC Vidyut Vyapar Nigam’s 500 MW/1000 MWh BESS auction at a tariff of about INR 2.37-2.38 lakh/MW/month.
October 23, 2024. By Mrinmoy Dey
IndiGrid 2 Ltd. won 250 MW at a tariff of INR 2,36,999/MW/month. Kintech Synergy Pvt. Ltd. quoted INR 2,37,490/MW/month for its 65 MW. HG Infra Engineering Ltd. won the balance 185 MW at a tariff of INR 2,38,000/MW/month, under the bucket-filling method. The company bid for 250 MW.
Major companies to have missed out include JSW Neo Energy, Gensol Engineering and Avaada Energy.
This is a significant gain for NVNN as the last few tariffs observed this year have been in the range of INR 3.72 - 4.48/kWh, for the same kind of tender, albeit without VGF support.
The tender for this was floated in September this year.
As per the tender document, the VGF is allocated for a total BESS capacity of 4,000 MWh and will be awarded in phases, with this auction marking the first phase. The BESS must be available to NVVN for on-demand charging and discharging.
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