NEW DELHI: JSW Energy on Monday announced that it has initiated the construction activities for its Battery Energy Storage Project (BESS), thus marking its foray into energy storage services business.
Battery storage, or battery energy storage systems (BESS), are devices that enable energy from renewables, like solar and wind, to be stored and then released when the power is needed most. A 1.0 GWh battery storage project was awarded by SECI (Solar Energy Corporation of India Limited), with commissioning expected by June 2025, the company said in a release announcing the construction activities for the same.
The project consists of two installations, each with a 500 MWh storage capacity, designed for two hours of storage in one cycle. The project will be developed under a Build-Own-Operate-Transfer (BOOT) mechanism and will be transferred to the offtaker after 12 years.
Besides battery storages, the company is developing commercial-scale green hydrogen project in India and green steel. The company had signed a seven years green hydrogen supply agreement with JSW Steel Ltd for 3,800 tons per annum, along with associated green oxygen.
The detailed engineering work and ordering of equipment have been completed with commissioning expected in the fourth quarter of 2024-25. Additionally, the company has been allotted a capacity of 6,800 tonne per annum under the Strategic Interventions for Green Hydrogen Transition (SIGHT) program by the SECI.
Furthermore, a Memorandum of Understanding (MoU) has been signed with JSW Steel Ltd to supply additional 85,000 to 90,000 tonne per annum of green hydrogen, along with 720,000 tonne per annum of green oxygen, progressively by 2030.
“…our Battery Energy Storage System project represents a crucial advancement in enhancing grid stability and integrating renewable energy sources, further solidifying our leadership in innovative energy solutions”, said Sharad Mahendra, Joint Managing Director and CEO of JSW Energy.
JSW Energy Ltd is one of the leading private sector power producers in India and part of the USD 23 billion JSW Group. JSW Energy has a total generation capacity of 13.3 GW comprising of 7.3 GW operational, 2.6 GW under-construction across wind, thermal and hydro and pipeline of 3.4 GW.
In addition, the company has 3.4 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project. The company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving Carbon Neutrality by 2050.
Overall, at COP26 held in 2021, India as a whole committed to an ambitious five-part “Panchamrit” pledge. They included reaching 500 GW of non-fossil electricity capacity, generating half of all energy requirements from renewables, to reducing emissions by 1 billion tonnes by 2030.
India as a whole also aims to reduce the emissions intensity of GDP by 45 per cent. Finally, India commits to net-zero emissions by 2070. (ANI)