Greenko has won 3 GW of energy storage capacity from NTPC Renewable Energy, the renewables unit of Indian state-owned power producer NTPC. It won the capacity by quoting the lowest bid in the technology-agnostic storage tender.

Greenko is developing the world’s largest energy storage platform based on pumped storage technology. It now has 50 GWh of storage projects under development. With its latest tender win, it will provide 500 MW/3,000 MWh of standalone storage capacity for a period of 25 years to NTPC Renewable Energy. NTPC Renewable Energy will use the storage capacity to supply round-the-clock power to utilities and industrial customers.

The tender outcome establishes pumped storage technology as the preferred and lowest-cost long-duration energy storage solution. Other developers submitted bids for Li-ion batteries, Na-S batteries, and compressed-air storage technologies.

“The winning bid translates into unit storage charges of $58/MWh on a single cycle per day basis, a remarkable feat in view of the storage charges discovered in another recent energy storage procurement tender based on battery energy storage systems by SECI ($120/MWh),” said Greenko. “Taking into account the fact that pumped storage project can deliver more than one cycle per day without any impact on the performance, effective storage charges can be significantly lower at $29/MWh.”