JSW Energy Signs PPAs for 1,325 MW of Renewable Energy Projects

On June 26, 2024, JSW Neo Energy Limited, a subsidiary of JSW Energy Limited, announced new power purchase agreements (PPAs) for wind and solar projects with a total capacity of 1,325 MW. This includes 1,025 MW with the Solar Energy Corporation of India Limited (SECI) and 300 MW with Gujarat Urja Vikas Nigam Limited (GUVNL). The company’s total locked-in capacity now stands at 13.6 GW.

Details of the New PPAs

The wind PPA of 1,025 MW is the largest single PPA signed by SECI. The project, which will supply power at a rate of ₹3.62 per kWh for 25 years, is located in Gujarat and Karnataka and is expected to be operational within 24 months. This will increase the company’s total locked-in wind capacity to 4.8 GW.

Additionally, the company signed a PPA for a 300 MW solar project with GUVNL, awarded under Gujarat State Electricity Corporation Limited’s RE Park at Khavda. With a tariff of ₹2.66 per kWh for 25 years, this agreement will be operational within 21 months, increasing JSW Neo’s total locked-in solar capacity to 3.3 GW.

Future Growth and Sustainability Goals

JSW Energy currently has a total locked-in generation capacity of 13.6 GW. This includes 7.3 GW of operational capacity, 2.6 GW under construction in wind, thermal, and hydro projects, and a renewable energy pipeline of 3.7 GW (with PPAs signed for 1.3 GW). They also have 3.4 GWh of locked-in energy storage capacity from battery energy storage systems and hydro-pumped storage projects.

JSW Energy aims to expand its generation capacity to 20 GW and increase its energy storage capacity to 40 GWh by 2030. They have also set a goal of achieving Carbon Neutrality by 2050.

About JSW Energy Ltd

JSW Energy Ltd is a prominent private-sector power producer in India. It is part of the JSW Group, which has a USD 24 billion portfolio spanning the steel, energy, infrastructure, cement, and sports sectors.

On June 27, 2024, the share price of JSW Energy Ltd opened at ₹720.00, touching the day’s high at ₹739.00 as of 10:59 AM on NSE.

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