GRIDCO Invites Bids for 2.5 GWh of Energy Storage Capacity

The last date to submit bids is April 23, 2024

March 26, 2024


Grid Corporation of Odisha (GRIDCO) has invited bids to procure 500 MW (2,500 MWh) of energy storage capacity with 5 hours of daily peak power support for a period of five years starting April 1, 2026.

The energy storage network (ESS), which can be technology-agnostic, must be connected to the central or state transmission network.

The last date to submit bids is April 23, 2024. The minimum bid size is 250 MWh (50 MW x 5 hours), while the maximum is capped at 1,250 MWh (250 MW x 5 hours).

To participate, bidders must submit an earnest money deposit of ₹200,000 (~$2,400)/MW. Successful bidders will have to furnish a performance bank guarantee of ₹1 million (~$11,200)/MW of the allotted capacity before signing the energy storage purchase agreement (ESPA).

The bidders’ net worth should be greater than or equal to ₹10 million (~$1,219,512)/MW of the quoted capacity on average for the last three financial years. The submission of annual audited accounts for the last financial year would be required.

Only commercially established and operational ESS technologies will be considered. The projects must ensure a minimum monthly availability of 95% during the five-hour peak period and provide one complete charge-discharge cycle per day with a maximum recovery time of 1 hour between cycles.

Bidders from countries sharing a land border with India must be registered with the competent authority per government guidelines. GRIDCO reserves the right to accept or reject any or all bids without assigning reasons.

Odisha is aiming to increase the share of renewable power in its energy mix to the tune of 43% by 2029-30.

Earlier this year, GRIDCO invited bids to source land from land owners and aggregators for either lease or sale to project developers for setting up solar power projects in Odisha.

Last year, the Solar Energy Corporation of India signed a power sale agreement with GRIDCO, the state-owned power distribution company, for 600 MW of wind power under Tranche XIII of the Inter-State Transmission System-Connected Wind Power Projects program.

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