JSW Energy Limited has informed the Exchange about Battery Energy Storage Purchase Agreements with Rajasthan Vidyut Utpadan Nigam Limited
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JSW Energy's step-down subsidiary, JSW Renew Energy Thirty Seven Limited, has signed a 12-year Battery Energy Storage Purchase Agreement (BESPA) with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) for a 250 MW / 500 MWh standalone Battery Energy Storage System (BESS) in Rajasthan, to be developed on a Build-Own-Operate basis. The agreed tariff is ₹2,24,000 per MW per month, and the project is supported by viability gap funding. With this addition, JSW Energy's total locked-in energy storage capacity rises to 29.3 GWh (2.9 GWh of BESS plus 26.4 GWh of pumped hydro storage), putting the company on track for its 40 GWh storage target by 2030. The broader business is constructing 12.8 GW of power projects and aims to reach 30 GW of total generation capacity by 2030.
This is a positive development for shareholders, as it strengthens JSW Energy's energy storage pipeline and reinforces its long-term revenue visibility through a 12-year fixed-tariff contract with a state-owned counterparty. The order supports the company's growth narrative in the energy storage space, though the financial impact relative to overall revenue is modest.