NTPC Vidyut Vyapar Nigam has signed an MOU with Greenko Energies for exploring the possibility of entering into an arrangement for trading, collaboration and partnership in Integrated Renewable Energy Storage Projects set up by GREENKO to offer Round the Clock (RTC) renewable energy power to potential customers in India. The value proposition of the potential offering will be to meet the evolving bespoke requirements of Discoms and other power consumers in India in real-time. Affordable energy storage is critical to the sustained growth of renewables, grid balancing and address limited generation flexibility in the Indian energy market.
The pact with Greenko Energies Pvt Ltd will help NVVN to establish itself strongly in various segments of RTC bundled renewable power. Greenko is developing and building over 40 GWh of pumped hydro storage projects across 6 states in India. The pumped hydro storage projects being built by Greenko, following the vision of Atmanirbhar Bharat made by our Honorable PM, shall be one of the lowest cost storage solutions at around 85 USD/ MWh compared to battery storage systems, currently being imported primarily from China, at around 200 USD/ MWh (forecasted to reached 100 USD/ MWh by 2030) with limited life cycles.
