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Posted 27 Feb 2024

Updated 27 Mar 2024

2 min read

  • SECI’s 40 MW/120 MWh BESS will store solar energy when the sun is shining and using it later during hours of peak demand in the evening. 
    • It is funded by the World Bank and Clean Technology Fund (CTF) under Innovation in Solar Power & Hybrid Technologies (ISP&HT) Project.

 

  • About BESS 
    • A BESS is an electrochemical device that charges (or collects energy) from the grid or a power plant and then discharges that energy at a later time to provide electricity or other grid services when needed. 
    • It is helpful in: 
      • Improving grid stability enabling larger Renewable Energy (RE) integration
      • Bringing down peak deficits
      • Meeting Renewable Purchase Obligations (mandates discoms to purchases a minimum percentage of electricity from RE).
      • Reduction of carbon emissions.

 

  • Initiatives to promote BESS
    • Allowing BESS to participate in the High Price Day Ahead Market (HP-DAM) segment of the Energy Exchange. 
    • Viability Gap Funding (VGF) scheme for development of 4,000 MWh of BESS projects by 2030-31
    • Waiver of Inter-State Transmission Charges on BESS Projects commissioned up to July 2025.
    • National programme on Advanced Chemistry Cell (ACC) battery storage for Gigascale.
      • Bidding Guidelines for BESS.

 

Clean Technology Fund (CTF)

 
  • Proposed in 2008. 
  • Seeks to promote scaled-up financing for demonstration, deployment and transfer of low-carbon technologies with significant potential for long-term greenhouse gas emissions savings. 
  • Funds projects in developing countries. 
  • World Bank acts as Trustee for the CTF.

 

ISP&HT

 
  • It seeks to demonstrate the operational and economic feasibility of utility scale innovative renewable energy technologies and BESS.
  • Tags :
  • Battery Energy Storage System
  • Clean Technology Fund (CTF)
  • Innovation in Solar Power & Hybrid Technologies (ISP&HT) Project
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