JSW Energy gave information about the new deal, keep an eye on the stock on Wednesday:

News Topical, Digital Desk : JSW Energy's subsidiary JSW Energy Renew Thirty Seven Limited has taken a big step towards clean energy and grid stability. The company has signed a Battery Energy Storage Purchase Agreement (BESPA) with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) for a 250 MW/500 MW-hour standalone Battery Energy Storage System (BESS).

This project will be developed in Rajasthan under the build, own and operate model. Under this 12-year agreement, RVUNL will buy energy storage services at the rate of Rs 2,24,000 per megawatt per month. To make the grid cost practical, it will be supported by Visibility Gap Funding (VGF).

JSW Energy's capacity increased
With this project, JSW Energy's total energy storage capacity has increased to 29.3 gigawatt-hour (GWh), which includes 2.9 GWh battery storage and 26.4 GWh pumped hydro storage. According to the company, this is taking them strongly towards the target of 40 GWh storage capacity by 2030.

Energizent Power Agreement Apart from this, JSW Energy's other subsidiary company Energizent Power signed a Power Purchase Agreement (PPA) with NHPC for 25 years on June 25. The agreement is for 300 MW solar-wind hybrid capacity under the Inter-State Transmission System (ISTS). The project will be located in Rajasthan and Andhra Pradesh and is expected to be commissioned in 24 months. The rate will be Rs 3.49 per kilowatt-hour. JSW Energy is expanding rapidly in sectors such as steel, cement, infrastructure and energy. The company is currently working on 12.8 GW power projects and aims to achieve a total generation capacity of 30 GW by 2030.

JSW Energy Share Performance JSW Energy shares closed at Rs 526.10 with a gain of 0.94%. The stock has gained about 6% in the last one month. At the same time, this stock has slipped more than 18% so far this year.