JSW Renew Energy Five Limited (JSW Renew Five), a wholly owned subsidiary of JSW Neo Energy Limited (JSW Neo) and step down subsidiary of JSW Energy Limited has signed Battery Energy Storage Purchase Agreement (BESPA) for the first project of 250 MW/500 MWh Standalone Battery Energy Storage System out of the total awarded project capacity of 500MW /1,000MWh (two projects each of 250 MW/500 MWh) with Solar Energy Corporation of India Limited (SEC’).

The company will be entitled to receive a fixed capacity charge of Rs.10.84 lakhs per MW per month for twelve years for 60% of the total capacity amounting to 150MW / 300 MWh. The utilisation of remaining 40% of the project capacity i.e. 100MW/ 200MWh is to be managed by the company. The project is required to supply power of the contracted capacity within 18 months.

JSW Energy has total locked-in generation capacity of 11.0 GW consisting of 7.2 GW operational, 2.6 GW under-construction across wind, thermal and hydro and LoAs for 1.2 GW. Subsequent to this, the company has signed PPA for 500 MWh out of the total 3.4 GWh of locked-in energy storage capacity by means of battery energy storage system and hydro pumped storage project. The company expects to have 9.8 GW of operational generation capacity by CY2024, up from current operational capacity of 7.2 GW.

The company aims to to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target for 50% reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050.

JSW Energy is presently constructing various power projects to the tune of 2.6 GW, with a vision to achieve a total power generation capacity of 20 GW before the year 2030.