JSW Energy signs PPAs for 1,325 MW of renewable energy projects

JSW Neo Energy Limited (JSW Neo), a wholly owned subsidiary of JSW Energy Limited, has entered into power purchase agreements (PPAs) for wind and solar projects with a total capacity of 1,325 MW. This includes 1,025 MW in Solar Energy Corporation of India Limited (SECI) and 300 MW in Gujarat Urja Vikas Nigam Limited (GUVNL), taking the company’s installed capacity to 13.6 GW.

The 1,025MW wind power PPA with SECI is the largest single tranche of PPA ever signed by SECI, covering a blended rate of £3.62/KWh for a 25-year supply period. These projects, located in Gujarat (JSW Renew Energy Eight Limited) and Karnataka (JSW Renew Energy Four Limited), are expected to be commissioned within 24 months, taking the total locked wind capacity to 4.8 GW.

Additionally, JSW Neo has signed a 300 MW solar grid connection PPA with GUVNL under Gujarat State Electricity Corporation Limited’s RE Park at Khavda (GSECL Phase 3). This PPA, at a rate of ₹2.66 per kWh for a period of 25 years, is for a project in Gujarat (JSW Renew Energy Ten Limited) that is expected to be commissioned within 21 months, taking the total locked solar capacity to 3.3 GW.

The total blocked generation capacity of JSW Energy is currently 13.6 GW, including 7.3 GW in the operational phase, 2.6 GW under construction in wind, thermal and hydro power plants and a renewable energy pipeline with a capacity of 3.7 GW (with signed contracts PPA for 1.3 GW). The company also boasts 3.4 GWh of locked energy storage capacity across battery energy storage systems and pumped storage projects. JSW Energy aims to achieve generation capacity of 20 GW and 40 GWh of energy storage capacity by 2030, and the long-term goal is to achieve emission neutrality by 2050.

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