New Delhi: Tata Power Renewable Energy Ltd (TPREL) and Oil and Natural Gas Corporation Ltd (ONGC) have signed an MoU to assess opportunities in energy storage.
Focus on Expanding Energy Storage Capabilities
Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, has entered into a non-binding Memorandum of Understanding (MoU) with the state-owned Oil and Natural Gas Corporation Ltd (ONGC) to explore opportunities in Battery Energy Storage Systems (BESS). The agreement focuses on developing energy storage infrastructure to support grid stability and renewable energy integration.
The companies plan to assess business opportunities across the BESS value chain, including utility-scale storage systems, microgrids, hybrid energy solutions, industrial and commercial storage, and backup power. They will also evaluate storage solutions for electric vehicle (EV) charging infrastructure and energy trading through ancillary services.
Addressing Grid Reliability and Clean Energy Goals
Deepesh Nanda, CEO & Managing Director of TPREL, stated that energy storage is key to improving grid reliability and expanding renewable energy adoption in India. ONGC Chairman and CEO Arun Kumar Singh emphasized that the partnership aligns with India’s clean energy transition by enhancing storage capabilities.
Battery storage is becoming increasingly important as India scales up its renewable energy capacity. The collaboration aims to leverage both companies’ expertise to develop solutions that address energy intermittency and ensure efficient power distribution.
The partnership reflects the broader industry shift toward energy storage as a critical component of India’s energy transition, with stakeholders from both public and private sectors exploring investments in this space.
