JSW Energy receives LoA for 500MW/1,000MWh BESS from SECI

JSW Renew Energy Five Limited, a step-down subsidiary of JSW Energy Limited (JSWEL), has received letter of awards (LoA) for total 500MW/1,000MWh standalone battery energy storage systems (BESS) (two projects each of 250 MW / 500 MWh) from Solar Energy Corporation of India Limited (SECI) against tariff based global competitive bid invited by SECI.

The company will be entitled to receive a fixed capacity charge of Rs 1.08 million per MW per month for twelve years. SECI’s obligation will be limited to 60 per cent of the project capacity/energy and remaining 40 per cent of the project capacity is to be managed by JSWEL. The company has set a target to reach 20 GW capacity by 2030 and near-term target of 10 GW by 2025, with a total locked-in capacity of 9.9 GW. Around 1.7 GW of renewable energy projects are currently operational, under-construction/in-pipeline is 2.63 GW, and with the acquisition of Mytrah Energy’s 1.75 GW renewable energy assets, the total renewable locked-in capacity of the company stands at 6 GW.