India Gris Trust (IndiGrid) has received letter of intent (LoI) from Gujarat Urja Vikas Nigam (GUVNL) to design, supply, test, install, commission, operate and maintain a 180 MW/ 360 MWh battery energy storage system (BESS) in Gujarat.
Indigrid emerged as the second lowest bidder in the reverse auction process conducted by GUVNL, winning 180 MW/ 360 MWh by quoting a fixed tariff of Rs 449,996 per MW per month, which translates to an annual tariff of over Rs 0.97 billion. The project is awarded through tariff-based competitive bidding mechanism and will be developed on a build, own, and operate basis for 12 years.