New Delhi, Jan 12, 2023, By Special Correspondent

New Delhi, Jan 12: ONGC-Tripura Power Company Ltd (OTPC) -- a JV with Government of Tripura -- has signed a pact to develop battery energy storage project in Assam at an investment of Rs 2,000 crore, the firm said in a statement.

The memorandum of understanding (MoU) was signed with Assam Power Distribution Company Limited (APDCL) at Guwahati "to develop battery energy storage system project of capacity up to 250 MW / 500 MWh in phased manner in Assam by incorporating a joint venture company," it said.

"An investment of Rs 2,000 crore will be made in the state for developing the project," the statement added without giving a time frame.

OTPC is a joint venture of Oil and Natural Gas Corporation (ONGC), gas utility GAIL (India) Ltd, Government of Tripura and India Infrastructure Fund-II. It owns and operates a 726 MW gas based power plant which caters to 25 per cent of energy demand of all seven north-eastern states.

Highlighting the benefits of the project, OTPC managing director Sanil C Namboodiripad said that the project will help the state in improving power availability during peak load hours, improving integration of renewable energy generation with the electricity grid and enhancing grid reliability.

"OTPC, a reliable energy supplier for Assam since 2014, is keen to be partner of Assam in its transition towards decarbonised energy mix. The energy storage project will bring in multiple avenues of employment, boost to local businesses, improved utilisation of green energy, carbon emission reduction and overall socio-economic development in Assam," he said.