The Report covers the evolving power landscape in the country. Highlighting an unprecedent event in the grid which saw spot prices shuffling between the floor (Rs. 0/kWh) and ceiling (Rs. 10/kWh) within a span of hours, it doubles down on the need for storage. Expressing comfort on the momentum of standalone BESS tenders, it notes that while battery prices have crashed, tariffs have not. This has improved the investment rationale of projects through better IRRs. The Report also highlights a paradigm shift– from capacity-oriented planning to load-oriented planning, as clearly reflected in the proliferation of FDRE tenders in recent times. Navigating the complex bidding trends, the Report showcases the movers and shakers in the ESS space. The Report concludes with optimism that the BESS imperative can nurture an entire ecosystem, offering a case for a gradual indigenisation of the battery ecosystem, which will be necessary for true energy independence.
