TrueRE Oriana Power is a fully integrated renewable energy platform, delivering comprehensive, end-to-end clean energy solutions across the renewable energy value chain. Within the solar space, the company predominantly has commercial and industrial (C&I) open access projects and a rooftop solar portfolio. Having recently expanded into utility-scale solar, the company is now also strengthening its presence in the battery energy storage system (BESS) segment. The Renewable Watch team interacted with Parveen Jangra, Founder, Chief Technical and Operating Officer, TrueRE Oriana Power, at the sidelines of the India Energy Storage Week, New Delhi. Jangra discussed the company’s plans in the BESS market, opportunities in the C&I and utility segments, evolving policy landscape, and the outlook for India’s BESS segment. Edited excerpts…
What was the rationale to enter the BESS space?
Our customers in the BESS space are both C&I customers and utilities. Our focus on the C&I segment was driven by the fact that solar power can effectively meet a significant portion of daytime electricity demand while helping industries fulfil their renewable purchase obligations and transition from conventional power to green energy.
The next phase of growth lies in BESS. We are already working in this space because storage enables us to significantly increase renewable energy penetration for our existing customers. At present, conventional solar helps meet around 40 per cent of their energy requirements. By integrating storage with solar, we can substantially increase this share, potentially meeting up to 100 per cent of the energy demand for certain customers.
Data centres are a good example. Earlier, without storage, it was difficult to serve commercial customers with round-the-clock power requirements. Since their demand extends well beyond daylight hours, standalone solar was not sufficient. Storage now enables renewable energy to meet these requirements, making such projects commercially viable.
Who are your technology providers in the BESS segment? Are you developing your own technology?
No, we are not developing our own technology. We are purely a project developer. However, we have an experienced technical team that evaluates technology feasibility, commercial viability and field performance before selecting solutions. At present, the BESS projects we are executing use technologies supplied by global manufacturers, primarily because they have proven performance records, established testing infrastructure and significant deployment experience.
As India accelerates its BESS journey, the country is steadily strengthening its manufacturing ecosystem, testing infrastructure, standards and skilled workforce–laying the foundation for large-scale, reliable energy storage deployment.
Where are your BESS projects located?
Some of our battery systems are co-located with solar projects in Rajasthan, Maharashtra and Tamil Nadu. We are also developing standalone BESS projects, where batteries are charged directly from the grid. These projects are located in Rajasthan, Tamil Nadu and Karnataka. The standalone battery projects are primarily for utilities.
What capacities are you currently planning?
Our standard project size is around 100 MWh at a single location. Overall, our planned portfolio is close to 1 GWh, with most projects offering two-hour storage duration. These projects are typically designed for two charging and discharging cycles per day.
Utilities generally face two demand peaks – one in the morning and the other in the evening. The batteries are charged during off-peak hours, particularly after midnight when conventional generation capacity remains underutilised, and are then discharged during peak demand periods. In states such as Rajasthan, surplus daytime solar generation can also be stored and utilised during the evening peak.
You are developing projects for both C&I customers and utilities. How does the business model differ between the two?
At present, policies primarily support storage for energy shifting – storing electricity and supplying it later. However, several additional revenue opportunities such as energy arbitrage, ancillary services, grid support services and third-party sales are yet to be fully enabled through policy.
These represent significant future opportunities. As renewable energy penetration increases, grid stability will become increasingly important, and storage can provide valuable ancillary services that currently rely on conventional generation assets operating in standby mode. Replacing such standby capacity with battery storage can reduce overall system costs.
What challenges do you see during project development?
Since BESS is still a relatively new technology in India, only a limited number of projects have been commissioned, and there is little long-term operational data available. Large amounts of energy are stored within compact battery containers, making system design, thermal management, control systems and safety critical aspects of project development. In addition, every project operates under different climatic conditions, grid characteristics and geographical environments. These factors need to be validated through actual operating experience, and the industry will continue to learn as more projects are commissioned.
What are the typical implementation timelines for these projects?
Implementation itself is relatively fast. The primary challenge lies in equipment delivery and supply chain constraints. If equipment is readily available, a 100 MWh project can be completed within a few months.
How do the project economics work for BESS?
The economics depend entirely on the customer’s demand profile. Unlike conventional solar projects, storage solutions cannot be priced using a single standard tariff. Every project is customised based on when electricity is required, how many hours of storage are needed and the customer’s load profile. Customers with daytime demand require different storage capacities compared to those with evening peak demand or round-the-clock consumption. Consequently, project economics vary significantly from one customer to another.
What is your outlook on BESS tariffs?
The quoted tariff depends on the project configuration. For example, projects designed for two charge-discharge cycles per day have a different revenue profile compared to those operating with a single daily cycle. Similarly, four-hour storage projects have different economics from two-hour systems. At present, policy only recognises storage for energy shifting. However, there are several additional revenue opportunities that remain untapped.
What should be the policy priority right now?
Large amounts of renewable energy are currently curtailed because surplus generation cannot be stored. Many solar plants are intentionally oversized on the DC side, leading to regular curtailment and wastage of energy. Storage can capture this otherwise lost energy.
Going forward, policy frameworks should also recognise services such as energy arbitrage, ancillary services, grid stability and fast-response support to create additional revenue streams for storage developers. Greater policy clarity will also enable developers to design more efficient storage systems that better serve both the grid and consumers.
Many thermal power plants are also exploring storage integration. How do you see this opportunity?
Thermal power plants cannot simply shut down during periods of low demand because restarting them takes considerable time. During late-night hours, electricity demand falls significantly, but thermal plants still need to operate at minimum technical load. By integrating battery storage, surplus electricity generated during these periods can be stored and supplied later when demand increases. This creates an additional revenue opportunity for thermal generators while improving overall system efficiency.
What is the financing outlook for BESS projects? Are lenders comfortable funding them?
The situation is similar to the early days of the solar industry. Initially, only a few lenders were willing to finance solar projects because the technology was relatively new. Once the sector established a proven track record, financing became much easier, with both banks and non-banking financial companies actively participating. The same evolution is expected for BESS. As more projects demonstrate reliable operational performance, lenders will become increasingly comfortable financing them. In fact, BESS projects can potentially offer more predictable revenues because they are based on service contracts rather than variable solar generation, which depends on weather conditions such as irradiation and monsoon patterns.
What are your growth plans in the BESS segment?
Our strategy focuses on three customer segments. First is the C&I space, where we already have a strong customer base. The second is the emerging data centre market, which requires reliable round-the-clock power and presents significant opportunities for storage. The third is the utility segment.
However, the pace of deployment will depend largely on policy evolution. With a supportive and clearly defined policy framework, these plans can be executed within the next couple of years.
