NTPC Vidyut Vyapar Nigam Ltd has signed a memorandum of understanding with Greenko Energies Pvt Ltd to explore possibilities in supplying round-the-clock power.
NTPC Vidyut Vyapar Nigam Ltd (NVVN), the electricity trading arm and wholly-owned subsidiary of NTPC, has signed an MoU with renewable energy player Greenko Energies Pvt Ltd.
The MoU, signed on August 25, 2020, aims to explore the possibility of entering into an arrangement for trading, collaboration and partnership with respect to integrated renewable energy storage projects (IRESP) set by up Greenko. Specifically, the MoU will look into the possibility of offering round-the-clock (RTC) power to potential customers in India, from Greenko’s upcoming IRESPs. The scope of the agreement with also cover pumped storage projects.
The pact with Greenko Energies Pvt Ltd will help NVVN to establish itself strongly in various segments of RTC bundled renewable power, a release from NTPC said.
According to information independently available, Hyderabad-headquartered Greenko is currently developing multi-GW scale IRES projects with national grid connectivity in the states of Karnataka and Andhra Pradesh. These projects will harness the power of solar, wind resources with digitally-connected storage infrastructure to provide RTC power to the grid.
Greenko is among the largest renewable energy developers in India with total asset base of 6.4 GW (operational and under development). Greenko is developing and building over 40 GWh of pumped hydro storage projects across six states in India. The pumped hydro storage projects being built by Greenko, it is learnt, shall be one of the lowest cost storage solutions at around $85 per MWh compared to battery storage systems, currently being imported primarily from China, at around $200 per MWh, and that too with limited life cycles.
Featured photograph shows officials of NVVN and Greenko Energies at the MoU signing ceremony, on August 25, 2020.
