JSW Energy has announced the commencement of construction for a 1 gigawatt-hour (GWh) battery energy storage system project at Fatehgarh in Rajasthan. This initiative marks a significant step forward in enhancing grid stability and integrating renewable energy sources.
According to a regulatory filing by the company, the project includes two installations, each with a 500 megawatt-hour (MWh) storage capacity, designed for two hours of storage in one cycle. The project will be developed under a Build Own Operate and Transfer (BOOT) mechanism and will be transferred to the off-taker after 12 years. This project was recently secured by the Solar Energy Corporation of India Limited (SECI).
Sharad Mahendra, Joint Managing Director and CEO of JSW Energy highlighted the importance of this development, stating, "Our Battery Energy Storage System project represents a crucial advancement in enhancing grid stability and integrating renewable energy sources." The company aims to have the project operational by June 2025.
In addition to this project, JSW Energy has signed a Memorandum of Understanding (MoU) with JSW Steel Ltd to supply an additional 85,000-90,000 tonnes of green hydrogen annually, along with 720,000 tonnes per annum (TPA) of green oxygen, by 2030.
JSW Energy's stock was trading at Rs 630.30, up 0.78% on the BSE on Monday afternoon, reflecting positive market sentiment following these strategic announcements.
