JSW Energy Inks Landmark PPA for Renewable Power
JSW Energy, through its arm JSW Neo Energy, has signed a significant Power Purchase Agreement with the Solar Energy Corporation of India. This agreement marks the company's initial contract for Firm and Dispatchable Renewable Energy, supporting its strategic goals in clean energy advancement.
- Country:
- India
JSW Energy, a major player in the energy sector, announced on Friday that its subsidiary, JSW Neo Energy, signed a pivotal Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI).
The agreement supports 230 MW of Firm and Dispatchable Renewable Energy (FDRE) capacity under SECI's Tranche IV scheme, marking a first for JSW Energy in FDRE projects. This 25-year commitment features a tariff of Rs 4.98 per kWh, positioning JSW Energy for further growth.
Currently, JSW Energy's under-construction capacity is at 12.9 GW, with a locked-in capacity of 30.2 GW. The company aims for 30 GW of installed capacity and 40 GWh of energy storage by 2030. CEO Sharad Mahendra emphasized the agreement's significance in enhancing JSW's energy solutions and contributing to India's energy transition goals.
(With inputs from agencies.)
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