JSW Energy has signed a battery energy storage purchase agreement with Rajasthan Vidyut Utpadan Nigam for a 250 MW / 500 MWh standalone battery energy storage system.
The agreement signed via JSW Renew Energy Thirty Seven, a step-down subsidiary of of the company, requires JSW Energy to set up the energy storage projects under the Build, Own and Operate model of Rajasthan.
In an exchange filing, JSW Energy said that the agreement is signed for a period of 12 years. Under the agreement, JSW Energy will supply power to Rajasthan at a tariff rate of RS 2,24,000 per MW per month.
JSW Energy is well prepared to meet the agreement requirement as it has ample prior experience in storage capacity. The company said that its current total locked-in storage capacity stands at 29.3 GWh. This includes 2.9 GWh of battery energy storage system and 26.4 GWh of pumped hydro storage capacity. The company stated that it aims to increase its net energy storage capacity to 40 GWh by 2030.
JSW Energy’s power purchase agreement with Adani
This is the second big power purchase agreement that JSW Energy has signed in about a month’s time. Earlier on June 5, JSW Energy signed a Power Purchase Agreement with Adani Electricity Mumbai for a 250 MW wind capacity addition. The agreement is signed for a period of 25 years. The tariff rates in the agreement are Rs 3.65/KWh.
Part of the $23 billion JSW Group, JSW Energy is rapidly expanding its renewable energy capacity. Last month, it commissioned a 281 MW organic renewable energy capacity. The company has reached a 12499 MW total installed capacity. The renewable energy makes up 55 percent of the company’s total capacity, as the solar, wind, and hydro capacities stand at 1968 MW, 3482 MW, and 1391 MW, respectively.