JSW Energy receives LoA for 500MW battery energy storage from SECI

JSW Energy

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

JSW Renew Energy Five Limited, a step- down subsidiary of JSW Energy Limited has received Letter of Awards (LoA) for total 500MW/1,000MWh Standalone Battery Energy Storage Systems (two projects each of 250 MW/500 MWh) from Solar Energy Corporation of India Limited (or ‘SECI’).

Subsequently, for a period of twelve years, the company will be eligible to receive a fixed capacity charge of 10.8 lakhs per MW each month, JSW Energy said in a stock exchange filing on January 19. The project's remaining 40 percent of capacity will be handled by JSWEL, with SECI's obligation being capped at 60 percent of the project's capacity, it added.

Post announcement, the shares of JSW Energy inched higher in the early deals. At 10:05am, the scrip traded 0.79 percent higher at 266.95 apiece on the BSE, while the benchmark Sensex was down 296.05 points or 0.48 percent at 60,749.69.

Moreover, the company's objective is to attain 20 GW capacity by 2030 and a near-term target of 10 GW by 2025. With a total locked-in capacity of 9.9 GW, the company is in a good position to meet its targets well in advance of schedule.

Prashant Jain, Joint Managing Director and CEO of JSW Energy, said in a press filing, “This is an essential step towards our nation’s energy security and grid stability and gives us an early mover advantage in the storage solution space. This is in line with the company’s long term strategy to transition towards an energy products and solutions company.”

With the addition of Mytrah Energy's 1.75 GW of renewable energy assets, the company's total renewable locked-in capacity now stands at 6.0 GW. Approximately 1.7 GW of renewable energy projects are currently operational, 2.63 GW are under development or in the pipeline, and 2.63 GW are planned, according to the press filing. By switching to renewable energy, JSW Energy hopes to achieve Carbon Neutrality by 2050 and a 50% reduction in its carbon footprint by 2030.