Shares of JSW Energy Ltd gained 1% on 2 July after the company announced signing an agreement with RVUNL for a battery energy storage purchase. 

JSW Renew Energy Thirty Seven, a step-down subsidiary of JSW Energy, has signed a battery energy storage purchase agreement (BESPA) with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) for a 250 MW / 500 MWh standalone battery energy storage system. The project will be created in Rajasthan using a build, own, and operate strategy.

The arrangement was inked for a 12-year period, with a rate of Rs 2,24,000 per MW per month and viability gap finance, the business said.

The company’s overall locked-in energy storage capacity is 29.3 GWh, including 2.9 GWh of BESS and 26.4 GWh of pumped hydro storage, it said. This puts the corporation in a good position to meet its aim of 40 GWh of energy storage by 2030.

In June, the company, through its stepdown subsidiary Energizent Power, signed a power purchase deal with NHPC for 300 MW of ISTS-connected solar-wind hybrid generation capacity.

However, at 12:24 pm, the shares of JSW Energy were trading 1.35% lower at Rs 520 on NSE. 

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