JSW Renew Energy Five Limited, a wholly owned subsidiary of JSW Neo Energy, has signed a 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 500 MW/1,000 MWh (two projects each of 250 MW/500 MWh) with Solar Energy Corporation of India Limited (SECI).
The company will be entitled to receive a fixed capacity charge of Rs 1.08 million per MW per month for twelve years for 60 per cent of the total capacity amounting to 150 MW/300 MWh. The utilisation of remaining 40 per cent of the project capacity i.e. 100 MW/ 200 MWh is to be managed by the company. The project is required to supply power of the contracted capacity within 18 months.
