Reportedly, Advait Energy Transitions Limited has received a letter of intent (LoI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for setting up a 150 MW/300 MWh standalone battery energy storage system (BESS) project in Gujarat under Phase VIII of the tariff-based competitive bidding route.
The project will be supported by viability gap funding through the power system development fund and will be followed by e-reverse auction. According to the disclosure, the project is to be executed within 18 months from the date of the battery energy storage purchase agreement. The tariff quoted for the project is Rs 210,000 per MW per month.