JSW Energy’s green energy wing, JSW Renew Energy Thirty Seven Ltd., signed a contract with Rajasthan Rajya Vidyut Utpadan Nigam Ltd. (RVUNL) for 250 MW or 500 MWh of a standalone battery energy storage system (BESS). The JSW Renew Energy Thirty Seven Ltd. is a step-down subsidiary of JSW Energy Ltd.

About the New Agreement 

This is a Battery Energy Storage Purchase Agreement (BESPA), which is for developing a project in Rajasthan to generate 200 MW of green energy. This project falls under the build, own, and operate model, and will be valid for 12 months. As per the contract, RVUNL will be procuring energy storage services from JSW Renew Energy at a tariff of ₹224000 per MW monthly. 

Furthermore, to enhance the cost viability of the energy grid/s, viability gap funding has also been initiated. 

Another subsidiary of JSW Energy, Energizent Power, has also announced a 25-year power purchase agreement (PPA) with NHPC Ltd. This agreement will have 300 MW of solar-wind hybrid capacity. This will come under the interstate transmission system (ISTS) of Rajasthan and Andhra Pradesh. It is expected that this project will be commissioned within the next 24 months, and the tariff decided for this project is around ₹3.49 per kWh. 

Closer to the Goal  

JSW Energy’s total committed energy storage capacity is currently 29.3 GWh, which includes 2.9 GWh of BESS, and the remaining 26.4 GWh comes from pumped hydro storage. With this new project, its target to reach 40 GWh by 2030 seems possible. 

With all the projects, JSW Energy is widening its reach across the renewable energy sector. It now has tie-ups with multiple industries as well, which include cement, steel, energy, and infrastructure. The current power projects add up to 12.8 GW, while the target is to increase the generation capacity to 30 GW by 2030. 

Share Price Movement 

JSW Energy Share Price today is going down, and at around 1:43 p.m., it is down by 2.25% to ₹515.30. While the company has bagged a new agreement, due to overall market sluggishness and other factors, the share price has been dragging downwards today. 

Source: CNBC TV18

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