Update From the Field - December 2021: India, a slowly maturing but deep energy storage market ?
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Description
TABLE OF CONTENTS
Executive summary (5)
New regulations and initiatives discussed this month (6)
Project updates and announcements (8)
Overview of the 2021 market for utility-scale energy storage projects (8)
Projects announced or contracted this month (9)
Projects commissioned this month (11)
Tenders this month (12)
Focus of the month: India - a slowly maturing but deep energy storage market ? (14)
4.1. India electricity context (14)
4.1.1. Generation of electricity in India (14)
4.1.2. Electricity demand in India (16)
4.1.3. Energy storage projects (16)
4.1.4. Targets of India in terms of renewables development and generation mix evolution (18)
4.2. Electricity and ancillary services market reform in India (19)
4.2.1. Electricity supply chain in India (19)
4.2.2. Ancillary services (23)
4.3. SECI’s 1000 MWh standalone storage tender (27)
TABLE OF FIGURES
Figure 1 - Utility-scale energy storage projects announced/contracted and commissioned in 2020 and 2021 (ongoing) (9)
Figure 2 – Electricity generation in GWh by source (15)
Figure 3 - Daily electricity demand in India in 2019 and 2040 (16)
Figure 4 - Changes in coal and solar capacity and share of power generation in India in the STEPS, 2000 - 2040 (19)
Figure 5 - Electricity supply chain India (20)
Figure 6 - Long term contracts and short term contracts (BU: billion unit (TWh); DAC: Day ahead contingency) (21)
Figure 7 - Bid areas in India for the day ahead market (21)
Figure 8 - Illustration of the roles of each stakeholder for electricity generation/demand balance (24)
Figure 9 - SRAS and TRAS services activation (25)
TABLE OF TABLES
Table 1 - Derating factor of storage for delivery year 2024 (7)
Table 2 - List of the main storage projects in India - Source: CHESS (18)
Table 3 - Day ahead and Real time market in India (22)
Table 4- Definition of the new ancillary services according to the draft (26)
Table 5 - Business model assumptions (29)
Table 6 - Revenues on the markets for a 1 MW/2 MWh battery (29)
Table 7 - Tariff to bid on the PPA to break even (29)