There is also a higher US$800 per kW rate for eligible low-income customers and a US$100 annual incentive for participating for five years for all.

Through the virtual power plant (VPP) programme – which is shorthand for the aggregation of distributed energy resources (DER) such as home batteries, solar and smart thermostats to provide services akin to a centralised power plant – Xcel will be able to manage peak demand for electricity in its Colorado service area.

Basically, during high demand periods, typically the hotter days of the year when air-conditioning loads put particular strain on utility grids Xcel will schedule a demand response event using the batteries’ stored energy to inject flexible capacity into the grid.

Solar and storage technology and services provider SolarEdge said in a press release this week that its DC-coupled SolarEdge Home Battery product has been made eligible for the scheme. The enrolled systems will be onboarded to SolarEdge’s portfolio of Grid Services, through which the company can offer a suite of services suited to different applications from demand response and frequency regulation to energy trading and optimisation.  

At present, the only other provider with eligible equipment is Tesla with its Powerwall and Powerwall II residential battery storage systems.

According to an info sheet from the utility, Xcel said it would guarantee participating customers always have 40% so they would have it in case they need backup as well as to perform any other functions as they ordinarily would. Through logging into either Tesla or SolarEdge’s monitoring apps, the customer would also be able to see how the battery is being operated during the utility’s demand response ‘control events’.

After several years of the potential of VPPs being widely talked about in the renewable energy industry, and a few more subsequent years of limited pilot and trial deployments, it appears major utilities such as Xcel – which is present in eight states – are looking to roll them out on a wider scale.

A report published earlier this year from energy consultancy Brattle Group and commissioned by tech giant Google, found that US utilities could make up to US$35 billion in savings on their costs of supplying electricity over the next decade by leveraging virtual power plant (VPP) technology.

Read further coverage of activity in the virtual power plant space on Energy-Storage.news here.

Continue reading

Avangrid, a sustainable energy company and part of the Iberdrola Group, has unveiled its plan to build the Camino Solar project (57 MW DC/44 MW AC), its first solar project in California, a state in which the company currently operates more than 500 MW through six wind energy facilities.

Cupertino Electric Inc. will construct Camino Solar in Kern County, adjacent to Avangrid’s 189 MW Manzana Wind farm. The project will employ more than 100 people during construction and is expected to be commercially operational in 2025. It will generate roughly $15.5 million in local taxes during its lifetime. With more than 105,000 panels, the construction will be completed approximately one year after the start of mobilization.

“Cupertino Electric has built more than 40 renewable energy projects in Kern County, Calif., and we’re honored to be involved with Avangrid’s inaugural project in the area,” says Chris Martin, vice president of operations, energy for Cupertino Electric Inc.

Avangrid is the third largest renewable energy operator in the U.S. with 8.7 GW of installed and operated capacity.

Continue reading

It will however not include a 1.8GW portfolio of solar and wind projects. It also excludes a total of 4GWh of in-development battery energy storage system (BESS) assets in three of the US’ Mountain West region states, Wyoming, Utah and Montana, which have planned commercial operation start dates ranging from later this year to Q4 2026.

Broad Reach Power closed US$435 million financing this summer on 880MW of assets in Texas and California with commissioning dates in 2023 and 2024, as reported by Energy-Storage.news a few weeks ago.

That portfolio represents the total of the construction-stage projects ENGIE will be acquiring, and the vast majority of them, 825MW, are in ERCOT. That is in addition to 350MW of operational BESS, while the claimed development pipeline of 1.7GW are a mix of advanced and early stage projects, EnCap said in a release.

Much like the US battery storage markets it is active in, Broach Reach Power has enjoyed rapid growth and in July 2022 raised US$160 million financing for its portfolio of operational assets. That made the developer one of three US energy storage-focused companies Energy-Storage.news reported to have raised in excess of US$100 million funding within a few weeks of each other, the others being technology providers and system integrators Powin Energy (US$135 million) and FlexGen (US$100 million).

Broad Reach Power’s owners alongside EnCap Energy Transition, a fund of EnCap Investments, which seeks investments in high-growth potential independent energy companies, include Apollo Funds, which bought a 50% stake in the developer in 2021, and fellow investors Yorktown and Mercuria.

Towards the end of last year, EnCap also sold on Jupiter Power, another US developer with a focus in the BESS market leaning heavily towards owning and operating assets in ERCOT. Jupiter Power was sold to asset management group BlackRock. Jupiter Power has more than 655MWh of operational projects, and recently raised US$70 million funding towards another 320MWh of ERCOT projects.

ENGIE advancing interest in BESS

For ENGIE’s part, the move for the Broad Reach Power BESS business appears to mark a continued play for further market share in the US storage market. In October last year the French company acquired a 6GW portfolio of early to late stage solar, hybrid solar-plus-storage and standalone energy storage projects from developer Belltown Power, including 0.7GW of solar-plus-storage and 2.6GW of standalone BESS.     

Globally, the utility group also has a battery asset management business, which appears to be relatively small or early stage at the moment, with 170MW of BESS assets under management listed on its website including commercial and industrial (C&I) installations.

It also used to have a global system integrator arm, ENGIE EPS, which it acquired in 2018. However it sold on that business to Taiwan Cement Corporation (TCC) in 2021, with the new owner subsequently rebranding it New HOrizons Ahea (NHOA).

NHOA is also active in EV smart charging infrastructure, but has said BESS is the main growth engine of its business. Relations between NHOA and ENGIE post-acquisition have not always been smooth sailing: in 2021, ENGIE dropped a solar-plus-storage project in Hawaii, despite contracts being in place with utility Hawaiian Electric Co (HECO).

The following year ENGIE also dropped a solar-plus-storage project in Guam that it had won a 2019 tender to build. NHOA had been contracted to supply both, with the Guam project including 300MWh of BESS and the Hawaii project 240MWh. In both instances ENGIE referred to project-related costs having risen since the time of contract awards through competitive solicitations.   

ENGIE remains active in the energy storage space outside the US, having submitted permit applications in April for three projects in Belgium totalling 380MW, while its subsidiaries in Latin America are working on hybrid or standalone BESS projects in Colombia and Chile, where it recently got a US$400 million loan agreement from the World Bank’s International Finance Corporation for an unspecified capacity of BESS.

Our publisher Solar Media is hosting the 10th Solar and Storage Finance USA conference, 7-8 November 2023 at the New Yorker Hotel, New York. Topics ranging from the Inflation Reduction Act to optimising asset revenues, the financing landscape in 2023 and much more will be discussed. See the official site for more details.

Continue reading

With an eye to the future, Microvast is now implementing a breakthrough battery cell technology in energy storage systems (ESS). This is a storage solution with high energy density and long cycle life.

High performance 53.5Ah energy cell serves as foundation for Microvast ESS

An energy storage system is only as effective as the cells powering it. That’s why Microvast decided to utilise its latest high-performance battery cell—the HpCO-53.5Ah energy cell—as a building block of its ESS solution.

Microvast’s cutting-edge HpCO-53.5Ah high-performance energy cell pulls double duty, powering CV and ESS battery solutions for the global company. Image: Microvast

The 53.5Ah NMC Li-ion pouch cell is known for its impressive energy density of 235Wh/kg, fast charging capabilities, high round trip efficiency, great energy retention and long-life cycles. That’s why it’s made a splash in the commercial vehicle market since its launch in 2022. The 53.5Ah was created for commercial vehicles, but its many benefits—plus its sleek, efficient design—make it a perfect solution for energy storage as well.

“The 53.5Ah is a proven winner in the commercial vehicle industry,” said Yang Wu, the CEO and founder of Microvast. “It made sense for Microvast to transition and leverage that technology as we expand into stationary energy storage. We saw an opportunity to take our 53.5Ah cell technology and create an energy storage solution that could have an immediate impact by providing critical infrastructure to address the gap between renewable energy supply and peak grid demand.”

Microvast utility-scale storage solution excels in energy density and retention

Maximising energy density has long been a challenge in the ESS sector, requiring solutions that minimise physical footprint while maximising efficiency. Microvast’s next-generation energy storage solution answers the call, boasting a groundbreaking 20-foot battery container with an industry-leading 4.3MWh energy density (up to 30% more energy density than leading ESS suppliers).

This remarkable increase in energy density results in fewer containers, reduced maintenance, a smaller footprint, and easier installation, which dramatically reduce the total cost of installing and operating an energy storage plant over its 20-year lifespan.  

Not only does Microvast’s revolutionary energy storage solution pack more energy into its small footprint, it also boasts higher energy retention and lower degradation than leading ESS containers, substantially reducing the initial overbuild energy and augmentation throughout the project life.

The end results: Higher system reliability and the availability to deliver power with lower CAPEX, OPEX, and capacity risk, ultimately increasing IRR for customers.

A battery management system that elevates the security and safety of grid systems

Microvast’s battery management system (BMS) is designed specifically to ensure the security and safety of the US grid system. Image: Microvast

The security and safety of grid systems are paramount, especially as sustainable energy technologies continue to gain substantial momentum. If the 53.5Ah energy cell is the workhorse of the ESS, the Microvast battery management system (BMS) is the brain, communicating critical information to ensure optimum operation. 100% designed, developed, programmed, and tested in the United States, Microvast’s BMS monitors cell voltages, module temperatures, and battery pack currents while also detecting isolation faults to ensure the safety operation. 

“The battery management system is a critical component in our ESS solution,” said Zach Ward, President of Microvast, “which means it deserved a critical eye in our production process. We’ve put our sixth generation BMS through the paces to ensure that it can provide the real-time control and oversight necessary to execute and optimise the overall battery performance of our ESS units.”

In addition to its impressive performance capabilities, Microvast’s ESS is engineered for safety, having undergone extensive fire and explosion testing. The container provides an array of enhanced safety features, such as state-of-the-art fire detection and explosion prevention systems.

Shaping the US battery industry through manufacturing, assembly and deployment

When Microvast launched its Energy Division in 2022, the Company recognised an opportunity that went beyond creating a new product in a growing sector.

With interest in securing domestic battery production increasing in recent years, escalated by the passing of the Inflation Reduction Act (IRA), it only made sense for Microvast, a US-owned and operated company, to bring its 17+ years of development and manufacturing to the forefront. Founded and headquartered in Stafford, Texas, Microvast is uniquely positioned to establish itself as a leader not only in the energy storage sector but also in the US battery manufacturing sector at large.

Since 2021, Microvast has backed up its stated commitment of helping the US expand its battery supply chain and manufacturing initiatives, providing hundreds of jobs and an economic boost to communities around the country through the creation of four new research & development (R&D) and production facilities.

In the last three years, Microvast has:

Established a new R&D facility in Lake Mary, Florida, to continue its history of innovating cutting-edge battery storage solutions

Renovated a 687,000-square-foot 4GWh Cell and Module Manufacturing Plant in Clarksville, Tennessee, to manufacture 53.5Ah cells and module packs for Commercial Vehicle and energy storage systems

Established a 30,000-square-foot Energy Storage Technology and Testing Center in Timnath, Colorado, to drive growth and innovation in the utility-scale battery storage industry

Launched a nearly 100,00-square-foot Energy Storage Plant in Windsor, Colorado, to assemble and deploy Microvast’s industry-leading 4.3MWh ESS

“The superior performance of our products, domestic production capabilities, and our team’s ability to effectively execute large-scale utility projects sets Microvast apart. We believe our ESS solutions offer substantial benefits to our customers, including a lower total cost of ownership and expected eligibility for Inflation Reduction Act benefits,” Ward stated when Microvast announced the creation of its Energy Division in 2022.

Ward’s statement has proven correct, as Microvast has secured contracts that will contribute more than 1.2GWh to one of the largest energy storage projects in the United States within the next year, with more to come.

Economical meets sustainability

Meeting the needs of a rapidly evolving energy market, the Microvast energy storage solution delivers both eco-friendly and economic benefits. The increased energy density not only drives down costs by reducing the number of installations and maintenance requirements but also promotes sustainability by minimising land usage and ecosystem disruption. It has been designed for long-term use in utility applications such as renewables integration, peak demand management, and capacity support.

“We understand how important it is to reduce costs and provide safe, domestically produced, reliable energy solutions for business operations—that’s why we’ve developed an ESS solution with superior battery cell technology that meets all expectations regarding performance measures such as energy density, cycle life, and energy retention,” said Zach Ward. “These key attributes contribute immensely to making US grid systems more resilient.”

Optimal battery design is challenging in this space, as engineers must choose certain inherent tradeoffs between cost and performance. Microvast’s use of the 53.5Ah cell has minimised these tradeoffs, bringing a balance of high energy density and long cycle life at the utility scale.

“Microvast’s 17+ years of proven expertise in lithium-ion battery development and manufacturing in the CV industry has provided us the know-how to manufacture a superior product for the energy storage segment that has been rigorously field-tested for safety, reliability and longevity,” said Ward.

The superior battery cell technology powering this energy storage solution answers some of the most pressing challenges in the sustainable energy industry today. Delivering an unparalleled 4.3MWh energy density in a compact 20-foot container, this innovative energy storage system sets a new standard in performance, safety, and efficiency.

“Our vision has always been to create advanced battery solutions and services that contribute to less dependence on fossil fuels, assist in decarbonisation, and help mitigate climate change,” stated Yang Wu. “As the shift toward renewable energies accelerates, adopting such technological advancements will be vital to ensuring a more sustainable, secure, and resilient future for our planet. We’ll continue to do our part and work tirelessly toward achieving those goals.”

Headed to RE+ in Las Vegas? The Microvast team will be holding meetings and would love to discuss how their energy storage solution can work for your project. Sign up here to schedule a time to meet.

To discover more about Microvast’s full suite of battery solutions, visit the Microvast website here.

Continue reading

Graph & data: Modo Energy.

These revenues were caused by increased Dynamic Containment Low volumes causing the highest average prices experienced since November.

Although the average requirement of the high-frequency service continues to increase steadily, the low-frequency service average jumped by 53% to 1,245MW between June and July, which Modo attributed to frequency oscillations in Scotland.

This resulted in Dynamic Containment Low prices increasing by over 300% to £6.41/MWh in July (from £1.41/MWh in June).

Negative pricing in day ahead markets in July – for example the drop to -£54.17/MWh on Saturday 16 July – presented wholesale opportunities for batteries by allowing batteries to be paid to charge, continued Modo.

This story originally appeared on our UK sister sites, Solar Power Portal and Current.

Continue reading

It marks the first time that the “billion-dollar barrier” has been breached during a single quarter, according to the national Clean Energy Council (CEC) trade group, which has just published its latest Renewable Projects Quarterly Report into activity in the space.

CEC said six BESS projects totalling 1,497MW of output and 3,802MWh of storage capacity were committed to in the three-month period ending 30 June 2023.

Meanwhile, four large-scale BESS projects were brought into commercial operation for a combined 460MWh of capacity, representing AU$350 million invested, and two projects are under construction, adding up to 2,480MWh and AU$1.1 billion investment.

Q1 was much quieter for financial commitments into new projects, with just one project of 200MWh. Similarly, there was just one 800MWh large-scale BESS under construction during Q1.

State-by-state, New South Wales (NSW) led the way, with a total of 13 projects financially committed to or under construction as of the end of Q2, representing 3,126MW/8166MWh of storage and AU$2.36 billion investment.

In joint second place for number of projects committed to or in construction with seven each were South Australia and Western Australia. However South Australia had almost double the output and capacity of BESS projects Western Australia did, with 1187MW/2864MWh versus 606MW/1754MWh, although Western Australia projects represented bigger investments in financial terms.  

A large portion of the Q2 numbers, or perhaps Q2 success, can be attributed to the Waratah Super Battery now under construction in Western Australia, designed as a “giant shock absorber” for the electricity system according to the state’s government, which is financially supporting the project.

Waratah Super Battery, which Energy-Storage.news has extensively covered through its development journey, will be at least 850MW/1,680MWh.

Bright spot in Australia amid renewable energy market challenges

However, the growth in battery storage activity was the standout clean energy technology in what has been otherwise a challenging couple of quarters for the sector, according to the report.  

Just four solar PV or wind large-scale generation projects totalling 384MW and around AU$225 million were committed to in Q2.

This was less than the rolling quarterly average over the past 12 months by more than a billion Australian dollars, and yet the smashing of records for standalone and hybrid energy storage investments drove the overall sums committed back to above the average.

Notably, the single largest among generation projects under construction is Ardandra Storage and Solar in Queensland, which is a hybrid combining 175MW of solar PV with 400MWh battery storage.

CEC chief executive Kane Thornton said barriers to large-scale renewables remain due to “the historic lack of leadership, planning and foresight over the prior decade”. The present federal Labor Party government headed up by prime minister Anthony Albanese was elected partly on a platform of action on climate change and long-term energy security after prior Liberal Party administrations had become known for inaction on climate and support for propping up the fossil fuel industries.

“These challenges make final investment decisions for large scale renewables projects more difficult, and include under-investment in transmission, grid connection challenges, inconsistent planning policies, constraints in supply chains and workforce as Australia competes with global leaders that are all accelerating their demand for renewable energy,” Kane Thornton said.

Although there is a pipeline of opportunity that continues to grow, Thornton added that right now, international investors are looking elsewhere as global opportunities are made to look even more attractive given the barriers present in Australia.

Additionally, although the battery sector is enjoying a boom, it still appears to be requiring a level of support. All three standalone energy storage system projects committed to in the quarter received funding or concessional financing from a government body, CEC said.

Continue reading

The second life BESS will essentially be a testing ground for the digital energy trading platform, which in future will integrate Volkswagen/Elli’s fleet of EVs via vehicle-to-grid (V2G) and vehicle-to-home (V2H) technologies. Elli provides charging infrastructure and retail energy products to B2C and B2B customers.

Asked what it would take for these technologies to scale up, Ingo Müller, head of energy solutions at Elli Group, said: “From a technology perspective we are already there with V2G. It’s proven that you can use EV batteries to earn money via FCR (frequency control reserve) or intraday trading. The main issue right now is a regulatory one.”

“The smart meter rollout is still relatively low in Germany, for example, and to scale up V2G you need a larger share of users actively using a smart meter. In some other markets the penetration is higher and people are already taking advantage of flexibility products.”

“We also need better energy products to be sold to the customer. We need tariffs which both provide a relative amount of safety on what the bulk of your energy supply will cost, while also allowing you to earn from the flexibility of your smart appliances like your heat pump and your EV battery.”

Retail energy markets are generally not well-shaped to allow for the ‘prosumer’ model – where consumers generate as well as consume energy – which V2G/V2H entails, partially as a legacy of their past domination by larger power plants.

Volkswagen and Elli also plan to deploy more second life BESS but Muller said the scale it could achieve there is not yet clear as the technology is still relatively new, but that being a company involved in the entire lifecycle of a battery positions Volkswagen well within the space.

“There still isn’t a broad insight into the health of the batteries that are going to come back from the EV market. We will see them in the coming years and then know what we can do with them,” Müller added.

The launch of the BESS and trading business comes nearly a year after Volkswagen and Elli announced a collaboration with Elia Group, which owns one of Germany’s four large transmission system operators (TSOs), looking into the potential of V2G technology.

Volkswagen has also used BESS to increase the capacity and optimisation of its charging parks, including one in Saxony commisioned last year with a 570kWh system made up of pre-production models of its ID.3 and ID.4 compact EV.

Continue reading

Telyon, a Connecticut based renewable energy development firm, has finalized a strategic investment that will fuel continued growth and execution capabilities of its current and future pipeline of projects across the country. As part of the deal, Telyon has sold a significant minority stake of the company to a New York City-based private equity fund affiliated with Greenbacker Capital Management.

“This investment allows Telyon to grow exponentially in the coming years, expand our platform’s reach and continue to meet the complex and ever-changing renewable needs of our customers,” says Andrew Chester, CEO of Telyon. “Most importantly, this investment fosters our collective goal to substantially contribute to a sustainable future.”

Telyon was launched in early 2020 by a group of renewable energy industry veterans, and specializes in the origination, financing, construction, and ongoing operations and maintenance of onsite solar, community solar, battery storage and electric vehicle (EV) charging infrastructure projects across the United States. With current activity across 21 states and a focus on Fortune 500 companies and MUSH market offtakers, the company has over 400 MW of near-term development opportunities and over 1.2 GW of identified pipeline.   

“We are excited to partner with the talented and experienced team at Telyon, an organization who shares our view that the U.S. is entering a period of increasing demand for high-quality C&I solar solutions,” says Rahul Bhalodia, managing director of Greenbacker. “We believe Telyon is well-placed to capture a significant share of that growth.”

The clean energy transition has seen substantial growth in recent years, most notably due to the passage of the Inflation Reduction Act in 2022. Chester continued, “This investment will immediately allow Telyon to grow headcount, increase brand awareness and execute on an exciting and rapidly growing pipeline of work, primarily with large Fortune 500 brands.”

Canadian Imperial Bank of Commerce (CIBC) served as financial advisor to Telyon on the process, with legal support provided by Hogan Lovells. Locke Lord advised Greenbacker.

Photo by Chelsea on Unsplash.

Continue reading

Although its EV segment business has been hit by “challenging market conditions,” for energy storage systems (ESS), the signs are that 2023 is a “breakthrough year” for Alfen, CEO Marco Roeleveld said. Its Smart Grid Systems segment, which provides key electrical infrastructure equipment such as transformers, is also enjoying a “step change” in growth, according to the CEO.

Alfen netted total revenues of €223.9 million (US$243.07 million) for H1 2023, which was a 9% increase year-on-year from H1 2022. While EV charging revenues declined 36%, and Smart Grid revenues rose by 20%, energy storage revenues leapt by over 500%, from €9.4 million in H1 2022, to €58.8 million in the first half of this year.

Its energy storage system segment has a backlog of orders worth more than €170 million, with the company claiming more than half of those orders will be fulfilled during the second half of 2023.

The company has been gearing up to capitalise on battery storage market success. It noted that a not-inconsiderable 48% drop in its adjusted EBITDA margin, from 18.1% of €37.3 million revenue in H1 2022 to 9.4% of revenues totalling €21.1 million was largely attributable to a revenue mix shift from EV charging to ESS, which has lower gross margins.

Gross margin across the business lines decreased for this reason also, from 35.3% in the first half of 2022 to 30.5% in the more recent period. Gross margin for the energy storage segment was 19%, in the lower end of guidance previously offered by the company of 15% to 30%.

Energy-Storage.news has reported on several of the ongoing or recently contracted ESS projects Alfen identified as half-year highlights, such as a 30MW/68MWh project in the Netherlands – thought to be the country’s largest battery energy storage system (BESS) project to date – with developer SemperPower.

Others include a large-scale BESS at a wind farm in Finland (30MW output, capacity not yet disclosed), Centrica’s first BESS project in Belgium (24MW/54MWh), and a number of projects in Sweden including four totalling 70MW with distribution network operator (DNO) Ellevio Group.

For those projects, Alfen is deploying its containerised BESS solution, TheBattery Elements, but the company also recently launched a new iteration of its mobile battery storage product called TheBatteryMobile, putting 720kWh of storage capacity into a 10ft container on wheels.

Company can ‘outperform’ European market on ESS, CEO claims

Alfen, which operates under an ‘asset-light’ business model, said it is maintaining higher stock levels of equipment relative to its battery storage segment in anticipation of growing demand and to fulfil its backlog in H2 2023. Key equipment it is putting down payments on include inverters, batteries and containers for both TheBattery Elements and TheBattery Mobile.

Based on challenges in the EV market and destocking in its EV charging sales channels, earlier this month Alfen lowered its revenue guidance for the year, from a previously guided €540 – €600 million to €490 – €520 million.

However, the company expects “sequential increases in revenues” for its EV segment from the fourth quarter of this year, Marco Roeleveld said, adding that “Alfen’s financial position continues to be strong and healthy at a time when other players in the EV Charging market are declaring insolvency or forced to raise capital”.

The CEO attributed this to the company’s diversified approach, with energy storage the standout performer.

“2023 is really the breakthrough year for energy storage for Alfen,” Roeleveld said.

“With our stationary and mobile battery solutions, we are well positioned for continued strong growth, underpinning our confidence that we can outperform the European market in 2023.”

Continue reading

The country continues to seek renewable capacity in order to reduce its reliance on diesel, and launched two programmes in 2014 working towards increasing its renewable capacity across its more than 1,000 islands. The first one was Preparing Outer Islands for Sustainable Energy Development (POISED) – supported by the ADB – to introduce solar photovoltaic battery-based hybrid systems in outer islands. The second, Accelerating Sustainable Private Investments in Renewable Energy (ASPIRE) which is supported by the World Bank, aims to mobilise private sector investments in solar photovoltaic in the greater Male region.

Following the work done with the ASPIRE programme, the country launched several tenders, financed by the World Bank similar to this latest one. In 2021 the country sought 40MW/40MWh of BESS across several regions, which appears to have been dropped, but was then reopened again last year, still seeking 40MWh of BESS.

Contracts will cover design, supply and installation of BESS and EMS.

In order to be eligible to participate in the current tender, bidders require the following qualifications:

Minimum average annual turnover of US$47.25 million calculated as total certified payments received for contracts in progress or completed, within the last three years.

Participation as a contractor, joint venture partner, or subcontractor, in at least two contracts that have been satisfactorily and substantially completed within the last five years and that are similar to the proposed contract, where the value of the bidder’s participation under each contract exceeds US$25.2 million.

Deadline for applications to submit a bid has been set for 10 October 2023, however interested bidders will be required to register first with the South Asian island nation’s Ministry of Finance between 20 August and 08 October 2023 with a payment of US$100 and then fill the bidding document.

Bidders awarded will be required to complete the project in 360 days.

For more information regarding the bidding process as well as the documentation to submit a bid is available on the Ministry of Finance’s website here.

Continue reading