JSW Energy Company Signs Battery Storage Pact With SECI

JSW Energy Company Signs Battery Storage Pact With SECI

JSW Renew Energy Five Limited, a wholly-owned subsidiary of JSW Neo Energy Limited a step-down subsidiary of the company, has signed a Battery Energy Storage Purchase Agreement (BESPA) for the first project of 250 MW / 500 MWh Standalone Battery Energy Storage System out of the total awarded project capacity of 500 MW / 1,000 MWh (two projects each of 250 MW / 500 MWh) with Solar Energy Corporation of India Limited.

According to the press release by JSW,  the company will be entitled to receive a fixed capacity charge of Rs 10.84 lakhs per MW per month for twelve years for 60 percent of the total capacity amounting to 150MW/300 MWh. The utilisation of the remaining 40 percent of the project capacity i.e. 100MW/ 200MWh will be managed by the company. The project is required to supply power of the contracted capacity within 18 months.

Further, JSW Energy has a total locked-in generation capacity of 11.0 GW comprising 7.2 GW operational, 2.6 GW under construction across wind, thermal, and hydro, and LoAs for 1.2 GW. After this, the company has signed PPA for 500 MWh out of the total 3.4 GWh of locked-in energy storage capacity using a battery energy storage system and hydro-pumped storage project. The company expects to have 9.8 GW of operational generation capacity by CY2024, up from the current operational capacity of 7.2 GW. The company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. Further, JSW Energy also has the target for a 50 percent reduction in carbon footprint by 2030 and achieving carbon neutrality by 2050, read the media statement by JSW Energy.

Recently, JSW Neo Energy Limited has received a Letter of Award (LoA) for an ISTS-connected solar capacity of 700 MW from SJVN Limited, against Tariff based Competitive Bid (TBCB) invited for setting up of 1,500 MW ISTS-connected solar power projects. JSW Neo also announced that it received a Letter of Award (LoA) for 500 MW wind capacity from Solar Energy Corporation of India Limited (SECI).