In a crucial announcement, JSW Energy Ltd. announced that it will develop India’s largest commercial-scale green hydrogen project. This initiative marks a significant milestone as it will be the country’s first project to produce green steel, the company stated in its filing to the stock exchanges.
JSW Energy will be constructing 25-megawatt green hydrogen project in Vijayanagar of Karnataka for its group company JSW Steel Ltd. to manufacture green steel.
Sharad Mahendra, Joint MD & CEO of JSW Energy, expressed confidence in commissioning the project by Q4 of FY25. He emphasized that the project aims to meet JSW Steel’s captive requirements as the steel division ventures into green steel production. This endeavor represents a significant step for both JSW Energy and JSW Steel in utilizing green hydrogen for steelmaking.
Additionally, JSW Energy has commenced construction of its Battery Energy Storage Project (BESS), signaling its entry into the energy storage market, the company informed the bourses.
Significant progress has been made in the green hydrogen project, including a seven-year agreement to supply 3,800 tons per annum to JSW Steel Ltd, along with green oxygen. Detailed engineering and equipment procurement are complete, with commissioning anticipated in Q4 FY25. Moreover, the company has been allocated a capacity of 6,800 TPA under the Strategic Interventions for Green Hydrogen Transition (SIGHT) program by SECI.
JSW Energy has also signed a Memorandum of Understanding (MoU) with JSW Steel Ltd to supply an additional 85,000 to 90,000 TPA of green hydrogen and 720,000 TPA of green oxygen by 2030.
Further, the company has begun constructing a 1.0 GWh Battery Energy Storage System (BESS) project, awarded by SECI, with expected commissioning by June 2025. The project comprises two installations, each with a 500 MWh storage capacity, designed for two hours of storage per cycle.
This BESS project will be developed under a Build Own Operate and Transfer (BOOT) mechanism and will be transferred to the off-taker after 12 years.
JSW Energy Ltd, a leading private sector power producer in India, is part of the $23 billion JSW Group.
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