JSW Renew Energy Five – a wholly owned subsidiary of JSW Neo Energy – has signed a power purchase agreement (PPA) with Solar Energy Corporation of India Limited (SECI) for the first of two 250MW/500MWh battery energy storage system (BESS) projects.
The agreement will see JSW Energy Limited – the parent company of JSW Renew Five – paid for 60% of the project’s total capacity (150MW/300MWh) for 12 years at a monthly fixed capacity charge of INR108,400 (US$1,310) per MW.
Government-owned SECI is expected to start receiving the agreed power supply within 18 months.
The remaining 100MW/200MWh will be managed by JSW Energy Limited.
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This project forms part of a pair that JSE Renew Energy Five successfully bid for at the beginning of last year during SECI’s pilot tender for two equally sized BESS projects totalling 500MW/1,000MWh.
These are to be installed at adjacent sites, connected to India’s Inter-State Transmission System via a substation in Fatehgarh, Uttar Pradesh.
As reported by Energy-Storage.news the tender proved popular with 10 hours of bidding reported before the subsidiary of Indian conglomerate JSW Group won with a reverse auction bid of INR1,083,500 (US$13,590 at the time) per megawatt.
JSW Energy has reported a “locked-in” energy storage capacity of 3.4GWh in India, split between battery energy storage and pumped hydro as it works towards its target of 40GWh of storage capacity before 2030.
Energy-Storage.news’ publisher Solar Media will host the 2nd Energy Storage Summit Asia, 9-10 July 2024 in Singapore. The event will help give clarity on this nascent, yet quickly growing market, bringing together a community of credible independent generators, policymakers, banks, funds, off-takers and technology providers. For more information, go to the website.
