India to achieve 227 GW of renewable capacity by 2022, and 500 GW by 2030.
About 50 GW of coal capacity will be decommissioned in the coming years.
New Delhi: To promote clean energy in India, E2S Power and India Power Corporation Limited (IPCL) teamed up on Tuesday to collaborate on converting India’s fossil fuel power stations into thermal storage systems for renewable energy.
In this regard, E2S, a leading developer of thermal energy storage solutions, and IPCL, one of India’s leading power utilities, have also signed a Memorandum of Understanding.
According to the statement, “IPCL and E2S Power will collaborate with major companies in India’s power and renewable energy sectors to identify, evaluate, and offer optimised integrated thermal energy solutions for existing plants and facilities that are being phased out.”
The collaboration brings together E2S Power’s expertise in energy storage technology and global power plant engineering experience, as well as the long-standing utility.
Dr. Sasha Savic, CEO of E2S Power, stated, “We are very pleased to collaborate with IPCL in India, one of the world’s most important energy markets.” The expansion of renewable energy capacity and the opportunity to use valuable existing power infrastructure are ideal applications for our thermal energy storage technology.”
The changing power generation mix and rising power demand present new challenges and opportunities for operating and maintaining a dependable power system.
Technology would be critical in helping India meet its ambitious renewable energy target of 500 GW by 2030. Energy storage technologies are essential for ensuring continuous power supply.
Among the available energy storage technologies, thermal energy storage (TES) is a solution that meets the socioeconomic needs of the community.
TES can be used to repurpose existing assets, giving new life to old projects while also preserving jobs and the local transition economy. The levelized cost of TES for 20-25 years of life is the lowest among other technologies, and it has no biohazard impact.
“We are very pleased to have technology collaboration with E2S Power in India as a future energy storage solution provider/developer by repurposing the country’s stranded thermal asset and adding value to the assets,” said Somesh Dasgupta, Whole-time Director, IPCL.
This collaboration between a leading energy storage solution provider and one of India’s leading power utilities will aid in the transformation of stressed thermal power assets into clean energy storage facilities, significantly contributing to the country’s renewable portfolio.
The government intends to reach 227 GW of renewable capacity by 2022, and 500 GW by 2030.
Simultaneously, approximately 50 GW of coal capacity will be decommissioned in the coming years.
“The thermal energy storage technology developed by E2S Power provides an opportunity to provide urgently needed energy storage while utilising the majority of the infrastructure in thermal power plants that are being retired and preserving jobs,” the company stated.
