Business
oi-Renu Baliyan
JSW Energy Ltd is planning to commission three green energy projects by financial year 2025 at an approximate cost of Rs 5,965 crore, according to report published in BQ Prime.
The projects span battery storage, green hydrogen production and solar module manufacturing under the Production-Linked Incentive scheme.
JSW Energy’s one gigawatt-hour battery storage project in Fatehgarh, Rajasthan, is expected to be commissioned by 2023, Prashant Jain, chief executive officer at the company, told BQ Prime in an interview.
In January, JSW Energy obtained 500 megawatt/1,000 MWh battery storage project from the Solar Energy Corp. of India under the build-own-operate-transfer model. The project will have a tenure of 12 years, reported BQ Prime.
“While 60% of the capacity will be sold to SECI under a battery storage purchase agreement, the balance will be open for sale,” Jain said. “We will approach the ancillary market for the open capacity.” The pumped storage plant of 2.4GWh-300 MW x 8 hours-from Power Company of Karnataka Ltd. is targeted to be commissioned in 36 months from signing of the power purchase agreement, with the PPA duration of 40 years, as per the BQ Prime report.
A 2.4-GWh pumped hydro project in Karnataka will also be commissioned by fiscal 2026.
Jain said the two projects would cost JSW Energy Rs 4,200 crore-including Rs 2,200 crore for battery storage and around Rs 2,000 crore for the pumped hydro project, added the BQ Prime report.
Story first published: Thursday, May 25, 2023, 12:55 [IST]
