JSW Renew bags LoA from SECI

JSW Renew Energy Five Limited has received Letter of Award (LoA) for total 500MW/1,000MWh standalone battery energy storage systems with two projects each of capacities of 250 MW/500 MWh. The LoA has been received from Solar Energy Corporation of India Limited. The company will be entitled to receive a fixed capacity charge of Rs 1.08 million per MW per month for twelve years. The SECI’s obligation shall be limited to 60 per cent of the project capacity. Remaining 40 per cent of the project capacity is to be managed by JSW Energy Limited (JSWEL).

The company has set a target to reach 20 GW capacity by 2030 and near-term target of 10 GW by 2025, and has a total locked-in capacity of 9.9 GW. Around 1.7 GW of renewable energy projects are currently operational and projects under-construction/in-pipeline are 2.63 GW. The company has also acquired Mytrah Energy’s 1.75 GW renewable energy assets. JSW Energy has set an ambitious target for a 50 per cent reduction in its carbon footprint by 2030 and achieving carbon neutrality by 2050 by transitioning towards renewable energy.

Recently in December 2022, SECI’s declared results for wind auction (Tranche XIII) for 1.2 GW projects connected to the interstate transmission system (ISTS), SJVN LIMITED, Scatec ASA (Scatec India II BV), and O2 Power emerged as winners. SJVN, Scatec India and O2 Power won 100 MW, 300 MW and 200 MW quoting a tariff of Rs 2.90 per kWh, Rs 2.95 per kWh and Rs 2.95 per kWh respectively. Blupine Energy quoted 300 MW at a tariff of Rs 3.10 per kWh and EDF Renewables quoted 300 MW at Rs 3.14 per kWh.