Business Update27 Jun 2024, 12:39 am
JSW Energy Subsidiary Signs 1,325 MW Power Purchase Agreements with SECI and GUVNL
AI Summary
JSW Neo Energy Limited, a subsidiary of JSW Energy Ltd, has signed Power Purchase Agreements (PPAs) for wind and solar projects with a cumulative capacity of 1,325 MW. The agreements are with Solar Energy Corporation of India Limited (SECI) for 1,025 MW and Gujarat Urja Vikas Nigam Limited (GUVNL) for 300 MW. The wind PPA with SECI is the largest single tranche PPA signed by the corporation, with a blended tariff of ¥3.62/KWh for 25 years. The solar PPA with GUVNL is for 25 years with a tariff of $2.66/KWh. The projects are expected to be commissioned within 24 and 21 months respectively.
Key Highlights
- JSW Neo Energy Limited signs PPAs for 1,325 MW of renewable energy projects with SECI and GUVNL.
- The wind PPA with SECI is the largest single tranche PPA signed by the corporation, with a blended tariff of ¥3.62/KWh for 25 years.
- The solar PPA with GUVNL is for 25 years with a tariff of $2.66/KWh.
- The wind and solar projects are expected to be commissioned within 24 and 21 months respectively.
- JSW Energy aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030, and has set an ambitious target of achieving Carbon Neutrality by 2050.