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 it’s attraction for grid operators. In addition to operational flexibility, the net negative emissions of these system 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.
Source: Company Press Release.