JSW Energy Subsidiary Secures 700 MW Solar PPA with SJVN Limited

On July 1, 2024, JSW Energy Limited informed in a stock exchange filing that the company’s wholly-owned step down subsidiary JSW Renew Energy (Raj) Limited, has signed a Power Purchase Agreement (PPA) with SJVN Limited for ISTS-connected solar capacity of 700 MW. The total locked-in capacity of the company stands at 13.9 GW.

JSW Renew Energy has signed a Power Purchase Agreement (PPA) for 25 years, with a tariff of ₹2.52 per kilowatt-hour (KWh) for a solar project in Rajasthan, expected to be operational within the next 24 months.

This project will increase their total locked-in solar capacity to 3.5 GW. Overall, JSW Energy has a total locked-in generation capacity of 13.9 GW, including 7.3 GW currently operational, 2.6 GW under construction across wind, thermal, and hydro sectors, and a renewable energy (RE) pipeline of 4.0 GW (with PPAs signed for 2.0 GW).

Additionally, the company has 3.4 GWh of locked-in energy storage capacity through battery energy storage systems and hydro-pumped storage projects. Their goal is to achieve a generation capacity of 20 GW and an energy storage capacity of 40 GWh before 2030, aiming for carbon neutrality by 2050.

On June 28, 2024, JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy Limited, was awarded a Letter of Award (LoA) by SJVN Limited for establishing a 300 MW ISTS-connected Wind-Solar Hybrid Power Project. This award came through a tariff-based competitive bid process initiated to develop 1,500 MW ISTS-connected wind-solar hybrid power projects (Hybrid-2).

About JSW Energy Ltd

JSW Energy Ltd is a prominent player in India’s private sector power generation, operating as part of the USD 24 billion JSW Group. The JSW Group holds substantial interests in steel, energy, infrastructure, cement, and sports industries. JSW Energy Ltd has strategically positioned itself across the power sector’s value chains, owning diversified power generation and transmission assets.

On July 1, 2024, the share price of JSW Energy Ltd opened at ₹739.85, touching the day’s high at ₹747.50, as of 11:41 AM on the NSE.

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