SECI Tender: Stark Difference in Results and the Need of Curated Analyses
SECI’s 500MW/1000MWh BESS Project was an ambitious tender floated that resulted in competitors bidding quotes that are poles apart. JSW Energy won the tender quoting a INR1.08 million/MW; on the other hand, the highest INR 2.29 million/MW offered by a seasoned player. The difference in quotes is more than 100%!
This signals the fact that curated modelling, analyses, and optimization of BESS is crucial to gain a competitive edge in energy storage bids. Furthermore, inclusion of RE sources: wind and solar in recent BESS bids, which have high intermittency can affect the hybrid mix and cumulative capital costs.
We help developers accurately size the hybrid mix: RE (PV + WIND) + BESS, by analyses of 20+ years’ time series data on a granular level for PV plants and Windfarms.
Figure below illustrates the variability of State of Charge (SoC) when coupled with RE to meet peak demand.
We use 25-year simulations to optimally size batteries considering calendar and cyclic degradation profiles specific to OEM make and chemistry thereby removing uncertainties corresponding to “thumb rules” in BESS.