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JSW Energy arm inks pact with SECI

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JSW Energy said that its step down subsidiary, JSW Renew Energy has signed a Battery Energy Storage Purchase Agreement (BESPA) with Solar Energy Corporation of India for battery energy storage system project.
JSW Renew Energy Five has signed an agreement 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.
The company will be entitled to receive a fixed capacity charge of Rs 10.84 lakh 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 will have to deliver power supply within 18 months.
JSW Energy is primarily engaged in the business of generation of power with principal places located at Vijayanagar (Karnataka), Ratnagiri (Maharashtra), Nandyal (Andhra Pradesh) and Salboni (West Bengal).
The company's consolidated net profit tumbled 28.79% to Rs 231.33 crore on 13.10% rise in net sales to Rs 2542.77 crore in Q3 FY23 over Q3 FY22.
Shares of JSW Energy fell 1.53% to Rs 501.55 on the BSE.
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First Published: Mar 06 2024 | 10:03 AM IST

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