O2 Power, an India-based renewable energy producer, has signed a MoU with Powin, a US-based battery energy storage company, to supply battery storage solutions for the Indian renewable energy sector. Reportedly, Powin will be in charge of the battery energy storage system (BESS) delivery and commissioning, while O2 Power would provide full EPC services for the projects they are constructing.
Reportedly, O2 Power has won about 1.8 GW of projects across a diverse portfolio, with the objective of becoming a leading participant in the design and construction of standalone storage systems and renewable energy integrated storage systems. Under this agreement, Powin will provide O2 Power with its advanced Stacks product lines, including the Centipede BESS hardware platform and the StackOS software platform.
In February 2022, Powin agreed to deliver 5.8 GWh of BESS over the next two years under framework agreements with four firms. The firm would provide BESS solutions to a number of projects in the US and Taiwan. Powin will provide fully integrated BESS solutions that include inverters, cells, battery management, cables and transformers, as well as software and control systems, among other components, under the terms of the deal.
In July 2021, Rewa Ultra Mega Solar Limited announced the winners of its auction for 550 MW of solar projects to be developed at the Agar Solar Park in Madhya Pradesh. In this solar park, the capacity has been split in two units: Unit 1 Agar and Unit 2 Susner comprising 200 MW and 350 MW respectively.The winners are Avaada Energy (200 MW) and O2 Power (350 MW). The two companies quoted a tariff of Rs 2.459 per kWh and Rs 2.444 per kWh.