JSW Energy receives LoA for Battery Energy Storage Systems from SECI

JSW Renew Energy Five, a 100% stepdown subsidiary of JSW Energy has received Letter of Awards (LoA) for total 500MW/1,000MWh Standalone Battery Energy Storage Systems (two projects each of 250 MW / 500 MWh) from Solar Energy Corporation of India (SECI).

The company will be entitled to receive a fixed capacity charge of Rs 10.8 lakhs per MW per month for twelve years. SECI's obligation shall be limited to 60% of the project capacity/energy and remaining 40% of the project capacity is to be managed by JSWEL.

The Company has set a target to reach 20 GW capacity by 2030 and near-term target of 10 GW by 2025, with a total locked-in capacity of 9.9 GW the company is well placed to achieve its targets well ahead of time. Around 1.7 GW of renewable energy projects are currently operational, under-construction/in-pipeline is 2.63 GW and with the acquisition of Mytrah Energy's 1.75 GW renewable energy assets the total renewable locked-in capacity of the company stands at 6.0 GW. JSW Energy has set an ambitious target for a 50% reduction in its carbon footprint by 2030 and achieving Carbon Neutrality by 2050 by transitioning towards renewable energy.

 

Powered by Capital Market - Live News