Tata Power Company Ltd expects the costs of energy storage and green power to drop significantly due to technological innovations and increasing demand for reliable power, according to CEO Praveer Sinha.
Currently, lithium-ion technology and economies of scale help lower energy costs, but not enough. Sinha mentioned that new energy storage technologies using common materials like aluminum, zinc, manganese, and sodium are being developed. These will last longer and be much cheaper.
“The global and Indian research on batteries and new technology could revolutionize renewable power,” Sinha said. These storage systems are for stationary uses such as distribution companies, renewable companies, and other utilities.
“New technology will drastically reduce storage costs. If we adopt some of these new technologies, the average cost will drop,” Sinha added.
Tata Power is particularly interested in pumped hydro storage, having experience with a 150-MW project. The company has plans for 2,800 MW of pumped hydro storage capacity in Maharashtra, with an investment of over Rs 13,000 crore. This includes 1,800 MW at Shirawata in Pune district and 1,000 MW at Bhivpuri in Raigad district.
The Western Ghats’ natural topography and geology make them ideal for pumped storage hydro projects. Tata Power currently operates three hydro power projects—Khopoli, Bhivpuri, and Bhira, including the 150 MW pumped storage project. “We are developing these projects as part of RE-RTC (renewable energy-round-the-clock) projects, which will become part of future FDRE (firm and dispatchable renewable energy) projects,” Sinha said. The company aims to be the largest player in the FDRE space, offering round-the-clock energy projects.
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