On Monday, BC Jindal Group’s renewable energy division, JIRE, announced that it has obtained a 300-MW solar energy project from SJVN Ltd. This project is included in SJVN’s tender for solar power projects connected to the inter-state transmission system, which encompasses a total of 1,200 MW, along with 600 MW/2400 MW of battery energy storage systems (BESS), as stated in an official announcement.
Jindal India Renewable Energy (JIRE) has bagged a 300 MW solar-plus-storage project at Rs 3.32 per kWh. The project will be developed on a build-own-operate basis, the company added. The Greenfield project is required to be finalized within a period of 24 months following the execution of the power purchase agreement (PPA).
A representative from JIRE stated, “We are committed to increasing our capacity to 5 GW in the upcoming years across solar, wind, hybrid, RTC, and FDRE platforms.” SJVN, a public sector Navratna enterprise, is set to sign a 25-year agreement with JIRE to acquire solar power, which will then be sold to state utilities and other entities.
In accordance with the contract, JIRE is required to install an Energy Storage System (ESS) with a minimum capacity of 0.5 MW/2 MWh for every 1 MW of contracted capacity. Recently, JIRE obtained a Letter of Acceptance (LoA) for a 300-MW solar and storage project from the state-owned NHPC. This project is part of NHPC’s broader 1200 MW inter-state transmission system (ISTS)-connected solar power program, which includes energy storage systems of 600 MW/1200 MW.
