Latest news with #BESPA
New Indian Express
26-07-2025
- Business
- New Indian Express
ACME Solar signs pact with NHPC for 275 MW battery storage projects in Andhra Pradesh
VIJAYAWADA: ACME Solar Holdings has signed Battery Energy Storage Purchase Agreements (BESPA) with NHPC for two pioneering Standalone Battery Energy Storage System (BESS) projects, totaling 275 MW/550 MWh, in Andhra Pradesh. The agreements, finalised through wholly owned subsidiaries, mark a significant step in bolstering India's renewable energy infrastructure. The projects, secured via an e-reverse auction on June 24, carry tariffs of INR 2,10,000/MW/month for a 50 MW/100 MWh system and INR 2,22,000/MW/month for a 225 MW/450 MWh system. Supported by the Government of India's Viability Gap Funding (VGF) scheme, which provides up to INR 27 lakh per MWh or 30% of the project cost (whichever is lower), the projects are set to be commissioned within 18 months from the signing date. Following the issuance of the Letter of Award (LOA) on July 8, 2025, the swift transition to BESPA signing was facilitated by the pre-identification of State as the customer. The State will provide land and evacuation infrastructure, enabling faster project execution. These standalone BESS installations, a first-of-their-kind in the state, will enhance grid stability by storing power during off-peak hours and supplying it during peak demand, aiding the integration of variable renewable sources like solar and wind. Operating under a 'BESS as a service' model, the projects introduce a novel framework where capacity charges are payable, setting a precedent in India's energy sector. This initiative strengthens ACME Solar's portfolio by leveraging large-scale battery procurement and installation, positioning the company as a leader in innovative energy solutions.
The Hindu
18-07-2025
- 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
18-07-2025
- 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
18-07-2025
- 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
18-07-2025
- 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.
