JSW Energy Expands Portfolio with 300 MW Solar PPA and Wind-Solar Hybrid Project

On August 23, 2024, JSW Energy Limited announced significant developments in its renewable energy portfolio.

JSW Renew Energy Twenty Limited, a wholly-owned step-down subsidiary of JSW Energy, has signed a Power Purchase Agreement (PPA) with Bangalore Electricity Supply Company Limited (BESCOM). This agreement covers a solar capacity of 300 MW, awarded by Karnataka Renewable Energy Development Limited (KREDL).

The PPA, set at a tariff of ₹2.89 per kWh, extends until FY 2044. The project, located in Pavagada Solar Park, Karnataka, is expected to be commissioned within the next 18 months. JSW Energy’s current solar pipeline capacity stands at 3.2 GW, with PPAs signed for 1.3 GW.

Additionally, JSW Neo Energy Limited, another wholly-owned subsidiary of JSW Energy, has received a Letter of Award (LoA) for a 300 MW ISTS-connected Wind-Solar Hybrid Power Project from NTPC Limited.

This project is part of NTPC’s Tranche-VI competitive bid for setting up 1,000 MW ISTS-connected Wind-Solar Hybrid Power Projects. With this award, JSW Energy’s total locked-in generation capacity has risen to 16.7 GW. This includes a total hybrid capacity of 2.6 GW, encompassing both firm and dispatchable renewable energy (FDRE).

The company anticipates reaching an installed generation capacity of 10 GW by FY25, an increase from its current 7.5 GW.

JSW Energy’s total locked-in generation capacity comprises 7.5 GW operational, 2.3 GW under construction across wind, thermal, and hydro projects, and a renewable energy (RE) pipeline of 6.9 GW, with PPAs signed for 2.3 GW.

Additionally, the company holds 4.2 GWh of locked-in energy storage capacity through battery energy storage systems and hydro-pumped storage projects. JSW Energy has set ambitious targets to achieve 20 GW of generation capacity and 40 GWh of energy storage capacity by 2030. Furthermore, the company aims for carbon neutrality by 2050, reflecting its commitment to sustainable energy solutions and a cleaner future.

On August 23, 2024, the share price of JSW Energy opened at ₹725.00, touching the day’s low at ₹707.05, as of 11:08 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.