As of 10 a.m., Semco Industry reported 6.67 yuan, an increase of 0.45%.
After the project is completed, four hours of electricity support will be provided through the energy storage system every day during peak electricity consumption. Commercial operations are expected to start within 24 months after signing a 25-year power purchase agreement with SJVN. The project will be raised through internal funding and lending.
Theproject adopts a "build-own-operate" model and is part of the tender for the SJVN's connected solar project with a total capacity of 1.2 GW of networked solar energy, which also includes 600 MW/2.4 GWh (i.e., output power at 600 MW for four hours).
The company issued a statement before the market opening on Thursday (May 29) saying that the project includes a solar power plant with an installed capacity of 150 megawatts and a battery energy storage system (BESS) with a capacity of 300 megawatt hours.
This is Semco Industries' second solar energy storage hybrid project of the same type in India, increasing its total renewable energy installed capacity to 6.3 GW in India. If unfinished acquisitions are included, Semco's global renewable energy portfolio has a total capacity of 17.7 GW.
Sembcorp Green Infra Private Limited (SGIPL), a wholly owned renewable energy subsidiary of Sembcorp Industries, has received a winning bid from India SJVN Co., Ltd. to develop its second solar energy storage hybrid project in India.