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 Climate Change

Power
Published on: March 16, 2022, 8:36 p.m.
IPCL, E2S Power sign MoU
  • IPCL and E2S Power will work with major companies in the power and renewable energy sector in the country

By Business India Editorial

India Power Corporation Ltd (IPCL) and E2S Power, a leading developer of thermal energy storage solutions, have decided to work closely on transforming fossil fuel power stations in the country into thermal storage systems for renewable energy.

Both the companies have signed a Memorandum of Understanding for the collaboration.

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

The collaboration is expected to help in transforming stressed thermal power assets into clean energy storage facilities, contributing significantly to the country’s renewable portfolio, said a press statement.

The government aims 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.

“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 utilise valuable existing power infrastructure are a perfect fit for our thermal energy storage technology,” said Dr Sasha Savic, CEO, E2S Power, in the statement.

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 levelised cost of TES for 20-25 years of life is lowest among other technology and it 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 country’s stranded thermal asset and bringing value to the assets,” Somesh Dasgupta, Whole-time Director,  IPCL said.


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