Greenko Group and Ayana Renewable Power have entered into an arrangement to provide standalone storage capacity in India. Under this partnership, the companies will collaborate to create robust and dispatchable renewable energy solutions for industrial and distribution companies in India, including a round-the-clock power supply of up to 1 GW.

Greenko Group has offered 6,000 MWhr of storage capacity in total, with 1,500 MWhr in the first tranche originating from its ‘Off Stream Closed-Loop Pumped Storage Project’ in Pinnapuram, Andhra Pradesh. Greenko Group has 7.3 GW of installed solar, wind, and hydro production capacity distributed across more than 100 projects in 15 states. Meanwhile, Ayana is currently developing and managing over 3.59 GWac of solar, wind, and hybrid power projects across India and has an operational capacity of 1.19 GWac of renewable energy projects across Andhra Pradesh, Karnataka and Rajasthan.

Earlier this month, the winners of Solar Energy Corporation of India’s (SECI) auction for 1,200 MW interstate transmission system (ISTS)-connected solar power projects (Tranche X) in Karnataka were Project Eight Renewable Power (Ayana Renewable Power) and SolarOne Energy (Fortum). Ayana was awarded a capacity of 300 MW at a tariff of Rs 2.36 per kWh. Out of the quoted 400 MW, Fortum was able to win 300 MW of capacity at a tariff of Rs 2.37 per kWh. In the subsequent auction for the remaining capacity, Ayana was awarded 300 MW at Rs 2.35 per kWh and Fortum obtained 300 MW for the Gadag substation for Rs 2.36 per kWh. enewable

REGlobal’s Views: The focus on round-the-clock power and hybrid renewable energy projects have created tremendous opportunity in the energy storage space. This is not limited to battery storage but also large pumped storage projects like Greenko’s Pinnapuram asset.