India's inaugural infrastructure investment trust (InvIT) in the power sector has been granted a Letter of Award (LOA) by BSES Rajdhani Power Limited (BRPL) for the task of planning, supplying, testing, installing, commissioning, operating, and maintaining a 20 MW/40 MWh battery energy storage system (BESS) in Delhi. This initiative is structured on a build, own, operate, and transfer (BOOT) basis, set to span 12 years, with a focus on competitive bidding based on tariffs (TBCB).
For a substantial portion of the total project capital, the Global Energy Alliance for People and Planet (GEAPP) will offer debt financing, accounting for 70 percent. GEAPP is a coalition composed of philanthropic organizations, governments, technology experts, policy makers, and financing entities, all working collectively to advance universal energy access and the transition to cleaner energy sources in pursuit of global climate objectives. Leading participants in the GEAPP include the IKEA Foundation, Rockefeller Foundation, Bezos Earth Fund, among others.
The alliance's overarching goals encompass reducing future carbon emissions by 4 gigatons, extending clean energy accessibility to one billion individuals, and facilitating the creation of 150 million new employment opportunities. The principal uses projected for this initiative include energy time-shifting (arbitrage) and ancillary services like frequency support, capacity enhancement, deferral, and ensuring resource adequacy. The project is scheduled for construction over a 12-month period.
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