JSW Energy (NSE:JSWENERGY, BOM:533148) said the Central Electricity Regulatory Commission (CERC) has declined to adopt the proposed tariff for its 500 MW/1000 MWh standalone battery energy storage projects.
The regulator cited a misalignment with prevailing market prices due to delays by Solar Energy Corporation of India (SECI) in signing Battery Energy Storage purchase and sale agreements, according to the Friday filing.
The company said it is preparing to file an appeal against the order.
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