JSW Energy grabs LoAs for 500 MW/1,000 MWh of BESS in India

• Indian power firm JSW Energy Ltd (BOM:533148) stated on Thursday that its wholly-owned subsidiary has gotten 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 5 Limited, will be qualified to get a fixed capacity cost of INR 1.08 million (USD 13,290/ EUR 12.290) per MW monthly for 12 years. SECI's obligation will be restricted to 60% of the project capacity/energy, while the staying 40% of the project capacity will be managed by JSW Energy, the business claimed.

"We are thrilled to receive the LoA for Battery Energy Storage System which marks our foray into energy storage options," Prashant Jain, joint handling supervisor and chief executive officer of JSW Energy, stated in a filing to the stock market.

Currently, JSW Energy has about 1.7 GW of renewable resource capacity in operation and also 2.63 GW of projects unfinished as well as in the pipeline. With the procurement of 1.75 MW of wind and also solar assets from independent power manufacturer Mytrah Energy, JSW Energy's complete locked-in renewables portfolio stands at about 6 GW, the business included.