SUSTAINABILITY MUST BE AT FOREFRONT OF ENERGY TRANSITION: RENEW POWER CHIEF

“I’m sure that sustainability will come to the forefront in the longer term as people have not forgotten that aspect,” Sinha said

EEnergy security may be driving the transition towards new sources at present in the developed world, but sustainability should be the key factor in the longer run, Indian renewables major ReNew Power’s chief Sumant Sinha said. Speaking at a session on ‘Different roads to energy transition’, he also said the energy transition began quite early in India and the process has got a huge leg up now. “Every country has a different way of looking at energy transition. For developing countries, it is about cost, while for developed ones, it is more about energy security,” he said. In the short run, people are more focussed on security, but in the longer run, it has to be about sustain ability, he noted. “I’m sure that sustainability will come to the forefront in the longer term as people have not forgotten that aspect,” Sinha said. Noting that energy transition in India began quite early, Sinha said the efforts got a further boost when solar power became much cheaper while wind price also came down significantly. The government has now upped the target for renewables, partly also due to rising demand, he added. “It started with ambition, then it got a boost for prices getting cheaper and now demand, sustainability and several other factors are driving the transition in India,” he said.

MATTER ENERGY, LUMINOUS POWER TIE UP TO DEVELOP DUAL- PURPOSE HOME INVERTER

Technology startup Matter Energy said it has entered into a strategic partnership with Luminous Power Technologies in the field of home inverters and stationary applications

The partners will work in the areas of low-voltage stationary energy storage solutions and develop a dualpurpose smart home dock inverter with IoT capabilities, Matter Energy said in a statement. The dock can be used for both mobility and domestic energy storage applications. This lithium-ion battery solution is built on the principles of battery swapping technology to power a two-wheeler and home inverter interchangeably, it added.

With Luminous’ extensive presence and distribution network not only in India but also in South-East Asia and South Africa, we are optimistic that our collaboration will enable us to provide dependable and eco-friendly solutions to millions of Indian households, Matter Group Founder and CEO Mohal Lalbhai said.

Luminous Power Technologies CEO Preeti Bajaj said Matters’ expertise in Lithium-ion battery technology will benefit us, allowing it to provide advanced solutions to customers in Indian and international geographies. “…this strategic collaboration aligns with Luminous’ goal to deliver a diverse variety of innovative solutions in the power backup for residential markets,” she added.

The power inverter market in India is estimated to grow at a CAGR (Compound Annual Growth Rate) of 14.6 per cent by 2027, and by joining forces, both companies will further accelerate the market catering to the growing demand for power inverters in the domestic and stationary sectors,” Bajaj said.

Source: PTI

Jsw Energy Arm Bags Two Battery Energy Storage System Projects From Seci

JSW Energy said that its arm JSW Renew Energy Five has bagged two battery energy storage system projects totalling 500 MW/ 1,000 MW from Solar Energy Corporation of India (SECI).

The company will be entitled to receive a fixed capacity charge of Rs 10.8 lakh per MW per month for twelve years, a company statement said. Energy storage system of 500 MW/1,000 MW means 500 MW of battery energy can provide power backup for two hours, giving total output of 1,000 MW, the company explained. SECI’s obligation shall be limited to 60 per cent of the project capacity/energy and the remaining 40 per cent is to be managed by the company, JSW Energy stated. JSW Renew Energy Five Ltd, a 100 per cent step-down subsidiary of JSW Energy, has received the Letter of Awards (LoA) for total 500 MW/1,000 MW standalone battery energy storage systems (two projects each of 250 MW/500 MW) from SECI, it stated.

Prashant Jain, Joint Managing Director and CEO of JSW Energy, said in the statement, “We are excited to receive the LoA for battery energy storage system which marks our foray into energy storage solutions. This is in line with the company’s long-term strategy to transition towards an energy products and solutions company.” The company has set a target to reach 20 GW capacity by 2030 and near-term target of 10 GW by 2025.

Around 1.7 GW of renewable energy projects are currently operational, under-construction/in-pipeline is 2.63 GW, and with the acquisition of Mytrah Energy’s 1.75 GW renewable energy assets the total renewable locked-in capacity of the company stands at 6.0 GW.