Gujarati state-owned electricity board GUVNL’s 500 MW/1 GWh battery energy storage system (BESS) tender generated a lowest price of INR 226,000 ($2,670) per megawatt of project nominal power per month.
That battery energy storage price was 4.6% lower than the INR 237,000/MW/month generated by the 500 MW/1 GWh tender held by the Vidyut Vyapar Nigam division of the National Thermal Power Company in October 2024. That procurement exercise, like the GUVNL tender, benefited from public subsidy in the form of viability gap funding, which is provided to enable projects to be financially viable.
