JSW Energy inks power purchase agreements for 1,325 MW renewables.

By Oliver Townsend Jun 27, 2024
JSW Energy Signs PPAs for 1,325 MW of Renewable Energy Projects.jpegOrginal image from: https://solarquarter.com/2024/06/27/jsw-energy-signs-ppas-for-1325-mw-of-renewable-energy-projects/

JSW Neo Energy Limited, a subsidiary of JSW Energy Limited, has recently signed Power Purchase Agreements (PPAs) for renewable energy projects totaling 1,325 MW. These agreements include 1,025 MW with the Solar Energy Corporation of India Limited (SECI) and 300 MW with Gujarat Urja Vikas Nigam Limited (GUVNL). This significant milestone has increased the company’s locked-in capacity to 13.6 GW, showcasing its commitment to sustainable energy generation.

1,025 MW Wind PPA with SECI

The 1,025 MW wind PPA with SECI represents the largest single tranche PPA ever signed by SECI, featuring a competitive blended tariff of ₹3.62/KWh for a 25-year supply period. These wind projects, located in Gujarat and Karnataka, are expected to be operational within 24 months, significantly increasing the company’s total locked-in wind capacity to 4.8 GW.

300 MW Solar PPA with GUVNL

In addition to the wind projects, JSW Neo has signed a 300 MW grid-connected solar PPA with GUVNL under the Gujarat State Electricity Corporation Limited’s RE Park at Khavda. This PPA, with a tariff of ₹2.66/KWh for 25 years, involves a solar project in Gujarat expected to be commissioned within 21 months. This initiative will boost the company’s total locked-in solar capacity to 3.3 GW.

Expanded Generation Capacity and Future Goals

With these new PPAs, JSW Energy’s locked-in generation capacity now stands at an impressive 13.6 GW, comprising operational, under-construction, and renewable energy pipeline projects. The company also boasts 3.4 GWh of locked-in energy storage capacity through battery energy storage systems and hydro pumped storage projects.

Strategic Growth and Environmental Commitment

JSW Energy aims to achieve a generation capacity of 20 GW and 40 GWh of energy storage capacity by 2030, with a long-term vision of reaching carbon neutrality by 2050. By strategically expanding its renewable energy portfolio and focusing on sustainable growth, JSW Energy is demonstrating its commitment to environmental stewardship and responsible energy generation.

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