Rajasthan: NVVN Awards Lowest Bid For 500MW/1GWh BESS At Rs 2.16L/MW/Month

NTPC’s subsidiary, NVVN, has awarded a 500 MW/1,000 MWh battery energy storage system (BESS) tender to five developers, including Solar91 – Energizing India, Rays Power Experts Ltd, Rajasthan-based Stockwell Solar, TrueRE – Oriana Power, and new entrant INOX Renewable Solutions Limited. The BESS would be developed to the requirements of Rajasthan Urja Vikas (RUVITL/ Buying Entity/ End Procurer) during the peak and off-peak hours.

NVVN awarded the tender at the lowest tariff of Rs 2,16,000 lakh/MW/month to Solar19 Cleantech Ltd for a 50 MW project. Rays Power Experts Ltd followed, securing a 50 MW project at Rs 2,18,7000 lakh. Stockwell Solar Services won the largest share of 225 MW at Rs 2,18,998 lakh, while Oriana Power and INOX Renewable Energy each secured 225 MW. According to the tender results, Inox Renewables secured the project at Rs 2,19,000 lakh, Oriana Power won the bid for Rs. 2,189,99. 

Winners Of NVVN 500MW/1GWh BESS Tender 

Company Name	Capacity Awarded (MW)	Tariff (lakh/MW/month)
Solar19 Cleantech Ltd	50 MW	Rs. 2,16,000
Rays Power Experts	50 MW	Rs. 2,18,700
Stockwell Solar Service	225 MW	Rs. 2,18,998
Oriana Power	125 MW	Rs. 2,18,999
Inox Renewable Solutions	125 MW	Rs. 2,19,000

  

Comparison with Previous Tenders

Earlier, NVVN’s 2-hour, 2-cycle BESS tender in RVUNL recorded tariffs as low as Rs 2.21 lakh/MW/month for a 1 GWh project scheduled for commissioning in January 2026. The latest tender has beaten that, with the winning bid coming in at Rs 2.16 lakh/MW/month for a 500 MW/1,000 MWh capacity project. The latest 500 MW/1,000 MWh standalone BESS tender, which includes a 30% Viability Gap Funding (VGF) component, saw bids at Rs 2.21 lakh/MW/month, then among the lowest with VGF support.

In that round, Solar World Energy secured 125 MW/250 MWh at the lowest bid, followed by Oriana Power with 50 MW/100 MWh at Rs 2.22 lakh. Rays Power Experts won 75 MW/150 MWh at Rs 2.23 lakh, while JSW Neo Energy took the largest share with 250 MW/500 MWh at Rs 2.24 lakh.

The current tariff also undercuts SECI’s first standalone energy storage tender under the VGF model, awarded at Rs 3.41/unit. That 500 MW/1,000 MWh (2-cycle) project saw winning bids from IndiGrid, Kintech Synergy, and HG Infra, with discovered tariffs ranging from Rs 2.37–2.38 lakh/MW/month. IndiGrid won 250 MW, Kintech 65 MW, and HG Infra the remaining 250 MW. Major players like JSW New Energy, Gensol Engineering, and Avaada Energy missed out on that round.

Following a brief upward trend where tariffs touched Rs 2.5 lakh, the current award marks a significant drop. With more bids expected, it’s yet to be seen if this downward trend will continue, since its variability hinges on the future BESS cost.

About The Tender

NVVN would develop the BESS tender to Rajasthan Urja Vikas (RUVITL/ Buying Entity/ End Procurer) requirements, to supply energy during the peak and off-peak hours. The tender aims to make an energy storage facility available to the NVVN for charging/discharging of the BESS. The primary objective of the project is to make the energy storage facility available to the NVVN for charging/discharging of the BESS. The tender specified that the project at each specified location will have a maximum capacity of 125 MW/250 MWh. For each 125 MW/250 MWh BESS project, only 17,500 sq. meters (1.75 hectares) of land will be allotted to the Battery Energy Storage System Developer (BESSD). The developer would also provide energy storage services to NVVN on an “on-demand” basis and guarantee a minimum system availability of 95% monthly.