JSW Energy Signs 1,200 MW Hybrid Power Purchase Agreements with MSEDCL

JSW Energy Limited has made significant strides in the renewable energy sector with the announcement of Power Purchase Agreements (PPAs) signed by its step-down subsidiaries, JSW Renew Energy Six Limited and JSW Renew Energy Thirty Limited. 

These agreements, made with Maharashtra State Electricity Distribution Company Ltd (MSEDCL), pertain to two hybrid projects that combine solar and wind energy, each boasting a capacity of 600 MW. The total capacity under these PPAs amounts to an impressive 1,200 MW. 

The Letters of Award for these projects were received on August 29 and September 10, 2024, respectively. The agreements span a period of 25 years, with a competitive tariff set at ₹3.60 per kilowatt-hour (kWh). The projects are expected to be commissioned within 24 months, further strengthening JSW Energy’s commitment to sustainable energy production. 

Currently, the company has a robust project pipeline of 8.3 GW, with PPAs already signed for 4.4 GW. JSW Energy’s total locked-in generation capacity stands at 18.2 GW, comprising 7.7 GW operational and 2.1 GW under construction, encompassing wind, thermal, and hydro energy sources. Additionally, the company has 16.2 GWh of energy storage capacity locked in through battery energy storage systems and hydro-pumped storage projects. 

JSW Energy is aiming for a generation capacity of 20 GW and 40 GWh of energy storage capacity by 2030, underscoring its ambitious goals. Furthermore, the company is committed to achieving Carbon Neutrality by 2050, demonstrating its dedication to sustainable development and environmental stewardship. This latest development reinforces JSW Energy’s position as a key player in India’s transition to a greener energy landscape.

On October 18, 2024, JSW Energy share price opened at ₹680.00, touching the day’s low at ₹667.05, as of 9:50 AM on the NSE.

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