JSW Energy announced that Solar Energy Corporation of India has awarded its unit JSW Renew Energy Five two battery energy storage system projects totaling 500 MW/1,000 MW (SECI). According to a business release, the company will be eligible to collect a fixed capacity charge of Rs 10.8 lakh per MW per month for twelve years. According to the business, an energy storage system of 500 MW/1,000 MW indicates
that 500 MW of battery energy can offer backup power for two hours, delivering a total output of 1,000 MW. According to JSW Energy, SECI's obligation is only to provide up to 60% of the project's capacity or energy, with the remaining 40% being controlled by the company. The Letter of Awards (LoA) for a total of 500 MW/1,000 MW standalone battery energy storage systems (two projects, each of 250 MW/500 MW) has been received by JSW Renew Energy Five Ltd, a 100% step-down subsidiary of JSW Energy.
Prashant Jain, Joint Managing Director and CEO of JSW Energy, said in the statement, "We are excited to receive the LoA for battery energy storage system which marks our foray into energy storage solutions. This is in line with the company's long-term strategy to transition towards an energy products and solutions company." The company has set a target to reach 20 GW capacity by 2030 and near-term target of 10 GW by 2025. With the addition of Mytrah Energy's 1.75 GW of renewable energy assets, the company's total renewable locked-in capacity now stands at 6.0 GW, with 2.63 GW of renewable energy projects either under construction or in the pipeline.
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