BC Jindal Group announced that its renewable energy arm, Jindal India Renewable Energy (JIRE), has won a 300 MW solar plus battery energy storage system (BESS) project from state-owned SJVN. The capacity is part of SJVN’s tender for 1,200 MW inter-state transmission system-connected solar power projects with 600 MW/2,400 MWh of BESS.
Under the contract, JIRE will deploy an energy storage system of at least 0.5 MW/ 2 MWh capacity for every 1 MW of awarded solar capacity.
JIRE won 300 MW solar capacity at a tariff of INR 3.32/kWh and will develop the project on a build-own-operate basis. The greenfield project must be completed within 24 months from signing of the power purchase agreement (PPA).
SJVN will enter into a power purchase agreement with JIRE for a period of 25 years. The power purchased from JIRE will be sold to state utilities and others.
Recently, JIRE also secured the Letter of Acceptance (LoA) for 300 MW solar with 150 MW/300 MWh battery energy storage system (BESS) from state-owned hydropower producer NHPC. It secured the project in NHPC’s tender for 1,200 MW of inter-state transmission system-connected solar projects with 600 MW/1200 MWh energy storage systems by quoting a tariff of INR 3.09/kWh.
JIRE aims to expand its RE capacity to 5 GW in the coming years across solar, wind, hybrid, RTC, and FDRE platforms. In line with its strategic growth plan, it intends to invest $2.5 billion in the renewable energy sector over the next five years. Additionally, JIRE is setting up a solar cell and module manufacturing plant in Maharashtra, with a planned annual capacity of 2 GW. The facility is expected to be operational by September 2026.
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