• GE Study to Provide Valuable Battery Storage Insight as India Looks to Integrate 160 Gigawatts of Variable Renewable Energy by 2022 • Study Funded by U.S. Trade and Development Agency to Develop Business Plan for an Integrated Wind, Solar and Energy Storage Project
SCHENECTADY, N.Y. — March 2, 2016 — Last year, the U.S. Trade and Development Agency (USTDA) and President Obama outlined numerous trade and investment initiatives with India at the U.S.-India Business Council Summit. Included in the plans was an initiative to invest nearly $2 billion for priority renewable energy projects in the country. Building off of this momentum, today, GE (NYSE: GE) announced that its Energy Consulting business has been chosen by IL&FS Energy Development Company Limited (IL&FS Energy) to examine the feasibility of integrated wind, solar and energy storage projects at its sites in Ramagiri (Andhra Pradesh) and Nana Layja (Gujarat), India.
IL&FS Energy, a subsidiary of Infrastructure Leasing & Financial Services Limited (IL&FS)—one of the largest wind independent power producers in India—is at the forefront of the country's renewable integration initiative. In 2015, IL&FS Energy signed a grant agreement with the USTDA to undertake a techno-economic feasibility study to investigate how it can best integrate wind and solar photovoltaic (PV) installations with energy storage solutions to create dispatchable, utility-scale renewable energy projects. As a part of the study, GE will design an integrated wind, solar and energy storage plant, estimate its capital and operating costs and develop a business plan that includes the viability gap funding that will be required for the commercialization of the project.
"Energy storage can be particularly helpful for integrating variable renewable generation in India since the technical infrastructure and market mechanisms available at the disposal of many other power grids are not yet available in the country. As the costs start to come down, energy storage will become an integral part of India's grid," said Sundar Venkataraman, technical director, GE's Energy Consulting business. "By taking a look at the impact of renewable integration with energy storage systems on India's power grid, we can provide valuable information to help the country best design its future grid."
GE expects to complete the project this summer.
About GE's Energy Consulting Group
For nearly a century, GE's Energy Consulting experts have focused on solving the electric power industry's most pressing challenges—driving the evolution of electric power systems with greater affordability, reliability, and efficiency. Today, GE's Energy Consulting team continues this tradition by providing innovative solutions across the entire spectrum of power generation, delivery and utilization. With our cross-company resources, GE's Energy Consulting business is able to serve a diverse global client base with a strong local presence.
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