JSW Neo Energy signs PPAs for renewable energy with a capacity of 1.3 GW

New Delhi: JSW Neo Energy Ltd, a subsidiary of JSW Energy Ltd, has signed power purchase agreements (PPAs) for 1,025 MW of renewable energy with Solar Energy Corp. of India Ltd (SECI) and 300 MW from Gujarat Urja Vikas Nigam Ltd (GUVNL).

The JSW Group company has entered into a contract for 1,025 MW with SECI and 300 MW with GUVNL, increasing the company’s total blocked capacity to 13.6 GW, reads the company’s statement.

“We are pleased to have signed power purchase agreements with SECI and GUVNL for a total renewable capacity of 1.3 GW. This includes a 1 GW wind power PPA with SECI, which is India’s largest wind power PPA by a single bidder in a single offer,” said Mahendra, joint managing director and CEO, JSW Energy.

Mahendra said the PPAs will help the company achieve its target of generating 20 GW of power by 2030.

The 1,025 MW wind power PPA is the largest single tranche of the PPA signed by SECI, according to the statement. Includes a mixed tariff of ₹3.62/KWh (kilowatt hour) for 25 years and is expected to be commissioned within 24 months in Gujarat by JSW Renew Energy Eight Ltd and in Karnataka by JSW Renew Energy Four Ltd. Currently, the company’s total locked wind capacity is 4 .8 GW.

Energy pipeline

With this 1.3 GW contract, JSW Energy’s renewable energy pipeline now has a capacity of 3.7 GW, the statement reads. JSW Energy has secured 3.4 GWh of energy storage capacity through battery energy storage systems and pumped storage projects to achieve its target of 40 GWh of energy storage capacity by 2030.

Supply chain

To reduce risks in its supply chain, JSW Energy has entered into a technology licensing agreement with SANY Renewable Energy for the production of 3.X MW wind turbines (WTG), a press release said.

The company also announced that it is ready to launch milestone projects in energy storage and green hydrogen production, including a 500 MW/1,000 MWh battery energy storage system (BESS) and India’s largest green hydrogen plant for green steel production .

The green hydrogen power plant has a 7-year supply agreement with JSW Steel Ltd and its commissioning is expected in the fourth quarter of the current financial year (25).