JSW Energy signs PPAs for renewable energy projects with a capacity of 1,325 MW, ET EnergyWorld

Mumbai: JSW Neo Energy, a wholly-owned subsidiary of JSW Energy, on Wednesday said it has signed power purchase agreements (PPAs) through its subsidiaries for wind and solar projects with a total capacity of 1,325 MW.

This includes 1,025 MW in Solar Energy Corporation of India (SECI) and 300 MW in Gujarat Urja Vikas Nigam (GUVNL), taking the company’s total locked capacity to 13.6 GW, an official press release said.

“The PPAs cover a total of 36% of the capacity of our gas pipelines and would enable us to accelerate the achievement of our development goals of achieving a capacity of 20 GW before 2030,” said Sharad Mahendra, Joint Managing Director and CEO of JSW Energy.

According to the company’s announcement, the wind energy PPA with a capacity of 1,025 MW is the largest single tranche of the PPA signed by SECI. The project has a blended tariff of Rs 3.62 per unit for 25 years and is expected to be commissioned within 24 months in Gujarat by JSW Renew Energy Eight and in Karnataka by JSW Renew Energy Four.

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Currently, the company’s total blocked wind capacity is 4.8 GW.

Whereas, the 300 MW grid-connected solar PPA with GUVNL, awarded under Gujarat State Electricity Corporation’s RE Park in Khavda, has a tariff of Rs 2.66 per unit for 25 years.

This project in Gujarat, implemented by JSW Renew Energy Ten, is expected to be operational within 21 months. Currently, the company’s total locked solar capacity is 3.3 GW.

JSW Energy’s total blocked generation capacity is currently 13.6 GW, including 7.3 GW in the operational phase and 2.6 GW under construction in wind, thermal and hydro projects.

The company’s renewable energy pipeline currently has a capacity of 3.7 GW, of which 1.3 GW has signed PPAs. Additionally, JSW Energy secured 3.4 GWh of energy storage capacity through battery energy storage and pumped storage projects.

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