MARCH 2022 (GPN):E2S Power, a leading developer of thermal energy storage solutions, and India Power Corporation Limited (IPCL), one of the leading power utilities in India, have signed a Memorandum of Understanding to work closely on transforming fossil fuel power stations in India into thermal storage systems for renewable energy.

The Government of India is aiming to achieve 227 GW of renewable capacity by 2022, and 500 GW by 2030.  At the same time, about 50 GW of coal capacity will be decommissioned in the coming years. The thermal energy storage technology developed by E2S Power offers an opportunity to provide urgently needed energy storage while using most of the infrastructure in thermal power plants being retired and safeguarding jobs.

IPCL and E2S Power will work with major companies in the power and renewable energy sector in India to identify, evaluate and offer optimized integrated thermal energy solutions for existing plants and facilities being phased out.

The collaboration brings together the energy storage technology expertise and global power plant engineering experience of E2S Power and the long-standing utility experience and understanding of the Indian power market from IPCL.

“We are very pleased to collaborate with IPCL in India, one of the most important energy markets in the world. The growth in renewable energy capacity and opportunity to utilize valuable existing power infrastructure are a perfect fit for our thermal energy storage technology”, said Dr. Sasha Savic, E2S Power CEO.

The evolving power generation mix and growing power demand present new challenges and opportunities in operating & maintaining a reliable power system. Technology would play a key role in achieving India’s ambitious renewable energy target of 500 GW by 2030. Energy storage technologies are imperative to ensure round the clock power. Thermal energy storage (TES), among other available energy storage technologies, is a solution which suits the socio-economic needs of the country. TES can be used for repurposing existing assets which while giving additional life to old projects, also preserves jobs and local transition economy. The levelized cost of TES for 20-25 years of life is lowest among other technology & this technology does not have any bio hazard 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 countries stranded thermal asset and bringing value to the assets,” said Mr. Somesh Dasgupta, Whole-time Director,  IPCL.

This collaboration between a leading energy storage solution provider and one of the leading power utilities of India will help in transforming stressed Thermal power assets into clean energy storage facilities, contributing significantly to the nation’s renewable portfolio.Ends