Business Update23 Oct 2024, 02:14 pm
JSW Energy Subsidiary Signs 700 MW Solar PPA with SECI at 2.56/kWh
AI Summary
JSW Renew Energy Eleven Limited, a step-down subsidiary of JSW Energy Ltd, has signed a Power Purchase Agreement (PPA) with Solar Energy Corporation of India Limited (SECI) for 700 MW solar capacity awarded under SECI Tranche XIII. The PPA is signed for a period of 25 years with a tariff of 2.56/kWh and is expected to be commissioned within 24 months. JSW Energy is aiming to achieve 10 GW operational capacity by FY 2025 and 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. The company has also set an ambitious target of achieving Carbon Neutrality by 2050.
Key Highlights
- JSW Renew Energy Eleven Limited signs a 700 MW solar PPA with SECI at 2.56/kWh for 25 years.
- The PPA is expected to be commissioned within 24 months.
- JSW Energy aims to achieve 10 GW operational capacity by FY 2025 and 20 GW generation capacity and 40 GWh of energy storage capacity before 2030.
- JSW Energy has set an ambitious target of achieving Carbon Neutrality by 2050.
- JSW Energy currently has 7.9 GW of operational capacity and is constructing various power projects to the tune of 2.1 GW.