JSW Energy on Tuesday said its arm JSW Renew Energy Five has inked a battery energy storage purchase agreement for the first 250 MW/500 MWh standalone battery energy storage system.
An energy storage system of 250 MW/500 MW means 250 MW of battery energy can provide power backup for two hours, giving a total output of 500 MW.
JSW Renew Energy Five Limited (JSW Renew Five), a wholly-owned subsidiary of JSW Neo Energy Limited (or JSW Neo) and step-down subsidiary of JSW Energy Limited (or The Company), has signed battery energy storage purchase agreement (BESPA) for the first project of 250 MW / 500 MWh standalone battery energy storage system out of the total awarded project capacity of 500MW /1,000MWh (two projects each of 250 MW / 500 MWh) with Solar Energy Corporation of India Limited (SECI), a company statement said.
The company will be entitled to receive a fixed capacity charge of Rs 10.84 lakh per MW per month for twelve years for 60 per cent of the total capacity, amounting to 150MW / 300 MWh.
The utilisation of the remaining 40 per cent of the project capacity i.e. 100 MW/ 200MWh is to be managed by the company. The project is required to supply power of the contracted capacity within 18 months.
JSW Energy has a total locked-in generation capacity of 11 GW, comprising 7.2 GW operational, 2.6 GW under construction across wind, thermal and hydro and LoAs for 1.2 GW.
After this, the company has signed PPA for 500 MWh out of the total 3.4 GWh of locked-in energy storage capacity by means of a battery energy storage system and hydro-pumped storage project.
The company expects to have 9.8 GW of operational generation capacity by 2024, up from the current operational capacity of 7.2 GW.
The company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target for a 50% reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050.
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