Torrent Power Receives LoA for 2000 MW Energy Storage Capacity from MSEDCL
Torrent Power has received a letter of award from MSEDCL for the long-term supply of 2,000 MW energy storage capacity from its InSTS-connected pumped hydro storage plant in Maharashtra.
October 09, 2024. By Mrinmoy Dey
This 2,000 MW capacity is inclusive of 1,500 MW Capacity for which Letter of Intent was already issued by MSEDCL on September 17, 2024. The company has now received an allotment of an additional 500 MW capacity under the tender taking the total capacity allocated to 2,000 MW.
As per the contract, MSEDCL will procure energy storage capacity from Torrent Power’s InSTS Connected Pumped Hydro Storage for a period of 40 years. Torrent Power 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 a 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 has identified Pumped Storage Project (PSP) sites in multiple states, besides Maharashtra. The company has already announced its intentions to install about 5-8 GW of PSP capacity entailing investment of INR 25,000-35,000 crore.
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