JSW Energy granted LoA for 500MW standalone battery storage system from SECI
Mumbai: JSW Renew Energy Five Limited, a 100 pc step-down subsidiary of JSW Energy Limited 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 Limited (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 will be limited to 60 percent of the project capacity/energy and the remaining 40 percent of the project capacity is to be managed by JSWEL.
Prashant Jain, Joint Managing Director and CEO of JSW Energy, said: “We are excited to receive the LoA for Battery Energy Storage System which marks our foray into energy storage solutions. This is an essential step towards our nation’s energy security and grid stability and gives us an early mover advantage in the storage solution space."
This is in line with the company’s long-term strategy to transition towards an energy products and solutions company, he added.
(With UNI inputs)
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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