JSW Energy secures PPAs for 1,025 MW of wind, 300 MW solar projects

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JSW Neo Energy Ltd, an arm of JSW Energy, has signed power purchase agreements (PPAs) through its subsidiaries for wind and solar projects with a cumulative capacity of 1,325 MW. This includes 1,025 MW with Solar Energy Corp. of India Ltd (SECI) and 300 MW with Gujarat Urja Vikas Nigam Ltd (GUVNL).

Sharad Mahendra, joint managing director and CEO of JSW Energy, said, “[These] PPAs collectively account for 36% of our pipeline capacity and would enable us to fast-track our growth targets of achieving 20 GW capacity before 2030.”

The wind PPA of 1,025 MW is the largest single-tranche PPA signed by SECI. This project features a blended tariff of INR 3.62/KWh for 25 years and is expected to be commissioned within 24 months in Gujarat (through JSW Renew Energy Eight) and Karnataka (through JSW Renew Energy Four). Currently, JSW’s total locked-in wind capacity stands at 4.8 GW.

The 300 MW grid-connected solar PPA with GUVNL is signed at a tariff of INR 2.66/kWh for 25 years. This project is to be developed at Gujarat State Electricity Corp. Ltd’s RE Park at Khavda (GSECL Stage-3), Gujarat, through JSW Renew Energy Ten. It is expected to be commissioned within 21 months. Currently, the company’s total locked-in solar capacity stands at 3.3 GW.

JSW Energy’s total locked-in generation capacity now stands at 13.6 GW, which includes 7.3 GW operational and 2.6 GW under construction across wind, thermal, and hydro projects. The company’s renewable energy pipeline is now at 3.7 GW, with 1.3 GW having signed PPAs. Additionally, JSW Energy has secured 3.4 GWh of energy storage capacity through battery energy storage systems and hydro pumped storage projects. The company targets 20 GW generation capacity and 40 GWh of energy storage capacity by 2030, and aims for carbon neutrality by 2050.

 

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