Resus Energy bids for 16 MW of battery storage

Resus Energy PLC has bid to add 16 MW of battery storage to its existing solar plants, the company said, as it seeks a slice of a 150 MW tender for storage systems attached to the country’s ground-mounted solar farms.

Two subsidiaries, Resus Solar Ltd., and Resus Eastern Solar Ltd., submitted proposals under the Limited Competitive Bidding process for the establishment of 150 MW AC/600 MWh Battery Energy Storage Systems (BESS). Such systems store electricity generated by solar panels and release it to the grid when needed, including after sunset.The company said its price bids were within the qualifying price range.

Resus Solar, a fully owned subsidiary, has proposed 14 MW/56 MWh of capacity. Resus Eastern Solar, fully owned by Resus Solar and thus indirectly by the listed parent, has proposed 2 MW/8 MWh. Together, the bids amount to 16 MW/64 MWh, or just over a tenth of the capacity on offer. The megawatt-hour figures imply storage of about four hours at full output.

The equity requirement for the projects is currently estimated at Rs. 650 million to Rs. 800 million, depending on the debt-to-equity ratio, the company said.Resus Energy said that the projects remain subject to the relevant approvals process and that the bids should not be read as awards. It said further announcements would follow upon receipt of Letters of Award.