JSW Energy has inked a battery energy storage purchase agreement (BESPA) with Solar Energy Corporation of India (SECI). The agreement pertains to 250 MW/500 MWh of standalone battery energy storage, representing the initial portion of the total 500 MW/1,000 MWh capacity, which encompasses two projects of 250 MW/500 MWh each, as awarded by SECI.
The agreement was entered into by JSW Renew Energy Five, a fully owned subsidiary of JSW Neo Energy Limited, which is a subsidiary of JSW Energy. JSW Energy announced that JSW Renew Energy Five will be granted a fixed capacity charge of Rs 1.084 million per MW per month for a period of twelve years for 60 per cent of the total capacity, equivalent to 150 MW/300 MWh. The company will be responsible for overseeing the utilisation of the remaining 40 per cent of the project capacity, specifically 100 MW/200 MWh. The project must meet the contracted power capacity requirement within a period of 18 months.
In October 2023, Envision Energy secured a contract from JSW Energy to set up a wind energy park of 653.4 MW capacity in Karnataka and Maharashtra. In the same month, the Uttarakhand government and JSW Neo Energy signed MoUs worth Rs 150 billion for the development of two 1,500 MW pumped storage projects in Almora in the next five to six years.
In May 2023, JSW Renew Energy Three Limited inked a power purchase deal with the SECI for 25-years of electricity supply at a rate of Rs. 2.94 per KWh.
