New Delhi: Nasdaqlist renewed strength and fluence, one of the biggest players in the battery storage business, on Thursday announced preparing a joint venture of 50:50 to increase energy storage in this country.
“The first JV customer will be extended to 150MWH Bess on the 300MW peak power project site with SECI,” said the company.
Updating the Power Chair and Sumant CEO Sinha said that in the future inundation the project would be widened, with the market projected to reach 27GW / 108GWH in 2030, according to Indian Central Electricity Authority.
“The storage business will grow substantially because we need to balance it with the capacity of generation,” Sinha said, adding that most of the business would be an EPC type, which requires a lower amount of capital.
He did not reveal the capital to be intended by two partners, by saying that it would depend on the command they got.
He said that storage will help meet the requirements because of the imbalance during the day because the generation is higher through solar plants during the day.
Similarly, in the case of wind energy, there are seasonal variations and there will be storage requirements for a longer duration of several weeks.
“For each, it takes a different battery technology,” he said.
Founded by AES, Global Energy Giant, and Siemens in 2018, Fluence has a project in 30 markets worldwide, with experience in modular products and sophisticated software, helping to modernize electric grid and accelerate local renewable spread.
New Delhi JV is expected to start operations in the first half of 2022 by providing a solution to update the BESS MNW needed for a 300MW power peak project in Karnataka State.
In 2019, Fluence provided the first battery-based energy-based energy project.