TrueRE Oriana Power has secured two Letters of Award (LOAs) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for developing a combined 900 MW/1,800 MWh Battery Energy Storage System (BESS) capacity across Maharashtra.
The projects have an aggregate consideration of approximately ₹3,870 crore over 15 years, excluding GST.
Key highlights:
- 500 MW/1,000 MWh BESS at MSETCL substations, with a tariff of ₹2,38,000/MW/month.
- 400 MW/800 MWh BESS at MSEDCL substations, with a tariff of ₹2,40,000/MW/month.
- The 400 MW/800 MWh project has been awarded under Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0).
- The projects were awarded through tariff-based global competitive bidding and an e-reverse auction.
- TrueRE Oriana Power expects approximately ₹324 crore in Viability Gap Funding (VGF) under the Power System Development Fund (PSDF) scheme.
- Both projects will operate under 15-year Battery Energy Storage Purchase Agreements (BESPAs) from their respective commercial operation dates.
The awards expand TrueRE Oriana Power’s presence in the utility-scale BESS segment and add significant grid-scale storage capacity in Maharashtra.
