JSW Renew Energy Five Limited, a JSW Energy Limited special purpose vehicle, has emerged as the lowest bidder in an auction by Solar Energy Corporation of India Limited (SECI) for setting up pilot projects of 500 MW/1,000 MWh standalone battery energy storage systems (BESS).
JSW Renew Energy Five won the entire capacity at a bid of Rs 1.08 million per MW. The project will be built under a build, own, operate, and transfer model. Acme Barmer Solar Private Limited, Hartree Partners Singapore, Eden Renewable Vavin Private Limited, Sterlite Power Transmission Limited, NTPC Renewable Energy Limited, ReNew Solar Power Private Limited, and Azure Power Sixty Private Limited also participated in the auction. The tender is for two battery storage projects at a single site at Fatehgarh-III substations in the state of Rajasthan. Land will be provided on a lease by SECI in agreement with the transmission licensee. Under the contract, 60 per cent of the capacity is contracted with SECI, while 40 per cent can be sold by the selected bidder in market.