JSW Energy announced significant progress in its journey towards becoming an ‘Energy products and services’ company, underscoring its commitment to sustainable energy solutions and a greener future for India.
The company is spearheading the development of the largest commercial-scale green hydrogen project in India, and the first in the country for making green steel. Furthermore, the company has initiated the construction activities for its Battery Energy Storage Project (or “BESS”), marking its foray into energy storage services.
The Company has achieved significant milestones in the green hydrogen space. These include signing a seven years green hydrogen supply agreement with JSW Steel Ltd for 3,800 tons per annum, along with associated green oxygen. The detailed engineering work and ordering of equipment have been completed, with commissioning expected in Q4 FY25. Additionally, the Company has been allotted a capacity of 6,800 TPA under the Strategic Interventions for Green Hydrogen Transition (SIGHT) program by SECI. Furthermore, a Memorandum of Understanding (MoU) has been signed with JSW Steel Ltd to supply an additional 85,000 to 90,000 TPA of green hydrogen, along with 720,000 TPA of green oxygen, progressively by 2030.
In addition to green hydrogen, the company has also commenced the construction of the 1.0 GWh BESS project awarded by SECI, with commissioning expected by June 2025. The project consists of two installations, each with a 500 MWh storage capacity, designed for two hours of storage in one cycle. The project will be developed under a Build Own Operate and Transfer (BOOT) mechanism and will be transferred to the offtaker after 12 years.
Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, said: “JSW Energy is making significant strides in becoming an energy products and services company. Our green hydrogen project not only underscores our commitment to reducing carbon emissions but also positions us at the forefront of industrial decarbonization by leveraging sustainable energy solutions. We are proud to collaborate with JSW Steel and are confident that it will be transformative for the Indian green hydrogen landscape. Furthermore, our Battery Energy Storage System project represents a crucial advancement in enhancing grid stability and integrating renewable energy sources, further solidifying our leadership in innovative energy solutions.”
JSW Energy has a total locked-in generation capacity of 13.3 GW comprising of 7.3 GW operational, 2.6 GW under-construction across wind, thermal, and hydro, and a pipeline of 3.4 GW. In addition, the company has 3.4 GWh of locked-in energy storage capacity through the battery energy storage system and hydro pumped storage project. The Company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving Carbon Neutrality by 2050.
