MUMBAI, India, February 15, 2019 /PRNewswire/ --
- Submits bids for two projects invited by Salt River Project (SRP) in Arizona, USA
- Bids submitted for a cumulative capacity of 400 MW
- The solution provides for utility's capacity and energy needs, including ancillary services
Sterlite Power has submitted bids for two storage projects in the recently concluded auction of Salt River Project utility. This marks the first foray of Sterlite Power into grid connected battery energy storage systems (BESS). Grid connected BESS are rapidly achieving commercially viability for utilities around the world as total system costs have dropped approximately 60% over the last 5 years. As grids integrate a greater share of renewables in their footprints, BESS solutions are needed for a seamless and reliable transition. These systems provide critical services like peak load shaving, energy and ancillary services that will be increasingly needed in a renewable-heavy grid.
Pratik Agarwal, Group CEO, Sterlite Power, said, "Battery Energy Storage Systems are critical to realize the renewable revolution, underway across the world, in a reliable manner. With their costs falling rapidly, we believe that these systems would form an integral part of grid planning and buildouts going forward. Our foray into grid connected battery storage will allow us to stay ahead of this technology's adoption and continue to empower humanity by providing reliable access to power."
BESS are one of the easiest systems to operate, which increases its attraction for grid operators. In addition to operational flexibility, the net negative emissions of these systems is a huge factor, aiding its adoption. Given the experience Sterlite Power has in commissioning and operating transmission grids, the company understands that BESS solutions are inevitable for grids across the world.
About Sterlite Power
Sterlite Power is a leading global developer of power transmission infrastructure with projects of over 12,500 circuit kms and 20,500 MVA in India and Brazil. With an industry-leading portfolio of power conductors, EHV cables and OPGW, Sterlite Power also offers solutions for upgrading, uprating and strengthening existing networks. The Company has set new benchmarks in the industry by use of cutting-edge technologies and innovative financing. Sterlite Power is also the sponsor of IndiGrid, India's first power sector Infrastructure Investment Trust ("InvIT"), listed on the BSE and NSE.
For more details, visit: http://www.sterlitepower.com
SOURCE Sterlite Power Grid Ventures Limited