JSW Energy gains as its arm signs Energy Storage Facility Agreement with MSEDCL
JSW Energy is currently trading at Rs. 712.05, up by 5.20 points or 0.74% from its previous closing of Rs. 706.85 on the BSE.
The scrip opened at Rs. 715.00 and has touched a high and low of Rs. 718.00 and Rs. 710.25 respectively. So far 10232 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 804.95 on 24-Sep-2024 and a 52 week low of Rs. 347.50 on 25-Oct-2023.
Last one week high and low of the scrip stood at Rs. 741.00 and Rs. 662.05 respectively. The current market cap of the company is Rs. 123541.01 crore.
The promoters holding in the company stood at 69.32%, while Institutions and Non-Institutions held 24.58% and 6.10% respectively.
JSW Energy’s step-down subsidiary -- JSW Energy PSP Two has signed Energy Storage Facility Agreement (ESFA) with Maharashtra State Electricity Distribution Company (MSEDCL) for procurement of 1,500 MW / 12,000 MWh of pumped hydro energy storage. The ESFA is for supply of energy storage capacity for a period of 40 years where the company will be entitled to receive a fixed capacity charge of Rs 84.66 lakh per MW per annum.
The Bhavali Pumped Hydro Project, situated in the Nashik and Thane districts of Maharashtra will feature an 8-hour discharge capacity with a maximum of 5 hours of continuous discharge. The project is expected to be commissioned in next 48 months. The company’s locked-in energy storage capacity stands at 16.2 GWh which includes pumped hydro storage capacity of 14.4 GWh and battery energy storage capacity of 1.8 GWh.
JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology.
