Marking its foray into energy storage solutions, JSW Energy (JSWEL) has won letter of awards (LoA) from the Solar Energy Corporation of India (SECI) for standalone battery energy storage systems totalling 500 MW.
The LoAs, awarded to JSWEL’s wholly-owned step down subsidiary of JSW Renew Energy Five, is for two projects each of 250 MW. The 500 MW of storage systems would have a total output of 1,000 MW, the company said in a regulatory update.
Also Read: JSW Energy arm bags two battery energy storage system projects from SECI
The company is entitled to receive a fixed capacity charge of Rs 10.8 lakh per MW per month for 12 years. SECI’s obligation is limited to 60% of the project capacity and the remaining 40% has to be managed by JSWEL, it said in a regulatory update.
“This is an essential step towards our nation’s energy security and grid stability and gives us an…