JSW Energy announced that its subsidiary, JSW Renew Energy Five, has signed a deal for a battery energy storage purchase agreement (BESPA) for the first 250 MW/500 MWh standalone battery energy storage system. This system will be able to provide power backup for two hours, meaning that 250 MW of battery energy can be used, resulting in a total output of 500 MW.
JSW Energy, a division of the JSW Group, is one of India’s leading power generation companies. With a focus on sustainability and innovation, JSW Energy is committed to providing clean, efficient, and affordable energy solutions. The company operates a diverse portfolio of power plants, including thermal, hydro, and renewable energy projects, with a total installed capacity of over 4,500 MW.
JSW Renew Energy Five, a subsidiary of JSW Energy, is dedicated to expanding the company’s renewable energy portfolio. JSW Renew Energy Five focuses on developing and operating wind and solar power projects, contributing to India’s goal of increasing renewable energy capacity. With a strong commitment to environmental stewardship and community engagement, JSW Renew Energy Five is poised to become a key player in India’s renewable energy sector.
JSW Renew Energy Five Limited (JSW Renew Five), a wholly-owned subsidiary of JSW Neo Energy Limited (JSW Neo) and a step-down subsidiary of JSW Energy Limited (The Company), has recently entered into a Battery Energy Storage Purchase Agreement (BESPA) for its initial project, a 250 MW / 500 MWh standalone battery energy storage system. This project is part of a larger plan that includes two projects, each with a capacity of 250 MW / 500 MWh, totaling 500 MW / 1,000 MWh.
The agreement was signed with Solar Energy Corporation of India Limited (SECI), as stated in a company release. Under this agreement, the company will receive a fixed capacity charge of Rs 10.84 lakh per MW per month for a period of twelve years for 60% of the total capacity, equating to 150 MW / 300 MWh. The company is responsible for managing the utilization of the remaining 40% of the project capacity, which amounts to 100 MW/200 MWh.
The project must supply power of the contracted capacity within 18 months. JSW Energy’s total locked-in generation capacity is 11 GW, consisting of 7.2 GW operational, 2.6 GW under construction in wind, thermal, and hydro, and LoAs for 1.2 GW. Following this, the company has secured PPAs for 500 MWh out of the total 3.4 GWh of locked-in energy storage capacity, including a battery energy storage system and hydro-pumped storage project.
It is projected that the company’s operational generation capacity will increase to 9.8 GW by 2024, up from the current operational capacity of 7.2 GW. JSW Energy has set an ambitious goal of achieving a 20 GW generation capacity and 40 GWh energy storage capacity before 2030. Additionally, the company aims to reduce its carbon footprint by 50 percent by 2030 and attain carbon neutrality by 2050.
