JSW Renew Energy Five Limited is a special purpose vehicle of JSW Energy. It has been awarded the Solar Energy Corporation of India Limited (SECI) auction to establish pilot projects of 500/1000 MWh battery energy storage systems (BESS), under a build-own, operate, transfer (BOOT).
JSW Renew Energy Five won full capacity with a quote of Rs. 1.08 million ($13,566)/MW.
Acme Barmer Solar, Hartree Partners Singapore, Eden Renewable Vavin, Sterlite Power Transmission, NTPC Renewable Energy, ReNew Solar Power, and Azure Power Sixty were other companies participating in the auction.
The highest tariff quoted was Rs. 2.29 Million ($28.672/MW), almost double the winning price.
As per the industry experts this auction is a huge win for storage in India.
In April this year, SECI has invited bids for Selection of Battery Energy Storage System Developers for Setting up of 1000 MWh (500 MW x 2 hrs) Battery Energy Storage Systems in India for “on Demand” usage under Tariff-based Competitive Bidding (ESS-I). The total capacity of 500 MW/1000 MWh must be set up at a single location, with two Projects each of 500 MWh (250 MW x 2 hrs) capacity to be set up at the identified location. The Scheduled Commissioning Date (SCD) for commissioning of the full capacity of the Project was set for 18 months.