August 1 (Renewables Now) - The US Trade and Development Agency (USTDA) will provide grant financing for a 41-MW hybrid renewable energy project with a storage component in the Indian state of Andhra Pradesh.
The financing will be extended to India-based IL&FS Energy Development Co Ltd (IEDCL) and will support the technical design and project planning works. The project, itself, incorporates wind, solar and energy storage technologies. According to a press release by USTDA on Tuesday, the technical assistance will advance pre-implementation and pre-construction activities for the plant, which is eventually planned to expand to a 1,040 MW complex.
The technical assistance services will be delivered by US engineering, procurement and construction (EPC) firm Black & Veatch. Its director of distributed energy resources, Jason Abiecunas, said: “Grid modernization through hybrid projects like this one will help promote sustainable economic growth in India, and support the government’s goal of reaching 175 GW of capacity from renewable sources by 2022.”
USTDA noted it has already provided support for technical, financial and commercial assessment of wind, solar and energy storage hybrid projects in Gujarat and Andhra Pradesh. Results from it led to the signing of a memorandum of understanding (MOU) between IEDCL and the government of Andhra Pradesh for the 1,040-MW project.