Indian power company JSW Energy Ltd (BOM:533148) said on Thursday that its wholly-owned subsidiary has received Letter of Awards (LoAs) from Solar Energy Corporation of India Limited for two 250-MW/500-MWh standalone battery energy storage systems (BESS).
The subsidiary, JSW Renew Energy Five Limited, will be entitled to receive a fixed capacity charge of INR 1.08 million (USD 13,290/EUR 12.290) per MW per month for 12 years. SECI’s obligation will be limited to 60% of the project capacity/energy, while the remaining 40% of the project capacity will be managed by JSW Energy, the company said.
“We are excited to receive the LoA for Battery Energy Storage System which marks our foray into energy storage solutions,” Prashant Jain, joint managing director and CEO of JSW Energy, said in a filing to the stock market.
At present, JSW Energy has around 1.7 GW of renewable energy capacity in operation and 2.63 GW of projects under construction and in the pipeline. With the acquisition of 1.75 MW of wind and solar assets from independent power producer Mytrah Energy, JSW Energy’s total locked-in renewables portfolio stands at about 6 GW, the company added.
(INR 100 = USD 1.231/EUR 1.139)