The stock of JSW Energy was trading slightly up in early trade as the energy company inked an important battery storage deal with Rajasthan Rajya Vidyut Utpadan Nigam Ltd. (RVUNL). The stock was trading at Rs 527.45 as compared to a previous close of Rs 527.10 on the BSE at 9.23 AM.
In an exchange filing, the company has mentioned that a stepdown subsidiary, JSW Renew Energy Thirty Seven, has signed a Battery Energy Storage Purchase Agreement (BESPA) with Rajasthan Vidyut Utpadan Nigam Ltd. (RVUNL) to establish a 250 MW / 500 MWh standalone battery energy storage system (BESS) in the state of Rajasthan. The project shall be constructed through a Build, Own and Operate (BOO) regime.
This contract has been awarded on a long-term basis, which is 12 years, with a tariff of 2,124,000 per MW per month, and is not without viability gap funding, which guarantees sure returns in the life of the project.
JSW Energy now has 29.3 GWh total locked-in energy storage, with 2.9 GWh in BESS and 26.4 GWh in pumped hydro storage. This development is aligned with its larger goal of going up to 40 GWh of energy storage capacity by the year 2030.
In June, the firm had executed another power purchase agreement under a separate company, Energizent Power, with NHPC on a 300 MW ISTS-connected solar-wind hybrid scheme, and the move has beefed up its renewable energy portfolio.
Although all this has occurred, the stock has dipped by almost 30 percent in the past year. On September 24, 2024, it touched a 52-week high of Rs 804.95, and on February 17, 2025, it reached the lowest of Rs 419.10. Its 52-week high and low prices are 52.30 and 23.77, respectively; it is currently trading at 34.47 percent down at the 52-week high and 25.85 percent up at the 52-week low, and its market capitalization stands at Rs 92,186.05 crore.
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