JSW Renew Energy Five Limited, a JSW Energy special purpose vehicle has won an auction by Solar Energy Corporation of India Limited. The auction was about setting up pilot projects of 500 MW/1000 MWh standalone battery energy storage systems (BESS) under a build, own, operate, and transfer model. JSW Renew Energy Five won the entire capacity with a bid of Rs 1.08 million per MW. Acme Barmer Solar, Hartree Partners Singapore, Eden Renewable Vavin, Sterlite Power Transmission, NTPC Renewable Energy, ReNew Solar Power, and Azure Power Sixty also participated in the auction. The request for proposals (RFP) is for two battery storage projects at the Fatehgarh-III substations in Rajasthan. With the permission of the transmission licensee, SECI will lease land. According to the agreement, 60 per cent of the capacity is contracted with SECI, while 40 per cent can be sold by the winning bidder in market.
In August 2022, JSW Group signed an agreement to acquire renewable energy company Mytrah Energy India in a deal estimated to be worth $1.8 billion to $2 billion. Mytrah, a company based in Hyderabad, operates more than 1.8 GW of renewable energy assets.