ACME Solar Holdings has commissioned 142.67 MW/481.49 MWh of battery energy storage system (BESS) in Rajasthan through its subsidiaries. The commissioned capacity represents phase 1 of the company’s planned 585 MW/2,011.24 MWh BESS portfolio. The portfolio will be implemented through multiple special-purpose vehicles (SPVs).
The recently commissioned storage projects are connected to the existing interstate transmission system. They will operate on a merchant and short-term basis, enabling the company to earn additional revenue by leveraging the price difference between peak and non-peak demand hours. Furthermore, the BESS projects will later be integrated with individual firm and despatchable renewable energy projects under 25-year power purchase agreements.
Earlier this month, ACME Solar Holdings secured a Rs 23 billion, 15-year term loan from the National Bank for Financing Infrastructure and Development.
