JSW Energy secures LoA for 700 MW solar capacity from SJVN

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JSW Energy announced this week that its arm JSW Neo Energy has received the Letter of Award (LoA) for 700 MW of interstate transmission system (ISTS) connected solar capacity from SJVN Ltd.

JSW Neo won this capacity by quoting a competitive tariff of INR 2.53/kWh in SJVN’s auction for setting up 1.5 GW ISTS-connected solar power projects. The company can set up the ISTS-connected PV capacity on a build-own-operate basis anywhere in India for power supply under a 25-year power purchase agreement (PPA) with SJVN.

The project is required to supply power from the full contracted capacity within 24 months from the effective date of the PPA.

With this addition of 700 MW, JSW Energy’s total locked-in generation capacity has swelled to 11 GW comprising 1.4 GW of solar capacity.  The total locked-in generation capacity of 11 GW comprises 7.2 GW operational and 2.6 GW under-construction projects across wind, thermal, and hydro, and LoAs for 1.2 GW capacity from SECI and SJVN. In addition, the Company has 3.4 GWh of locked-in energy storage capacity from battery energy storage system and pumped hydro storage projects. The company expects to have 9.8 GW of operational generation capacity by CY 2024, up from 7.2 GW at present. It aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity by 2030. JSW Energy targets a 50% reduction in carbon footprint by 2030 and carbon neutrality by 2050.

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