JSW Neo Energy, a subsidiary of JSW Energy, on Wednesday said it has signed power purchase agreements (PPAs) through its subsidiaries for wind and solar projects with a cumulative capacity of 1,325 MW.
This includes 1025 MW with Solar Energy Corporation of India (SECI) and 300 MW with Gujarat Urja Vikas Nigam (GUVNL), bringing the total locked-in capacity of the company to 13.6 GW.
The 1,025 MW wind PPA with SECI is the country’s largest wind PPA by a single bidder in a single bid.
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Sharad Mahendra, joint managing director and CEO of JSW Energy, said: “PPAs collectively account for 36% of our pipeline capacity and would enable us to fast-track our growth targets of achieving 20 GW capacity before 2030. It is another step in our renewable energy-led growth strategy and we will continue to contribute meaningfully in achieving India’s renewable and net-zero ambitions.”
The wind PPA with SECI features a blended tariff of Rs 3.62/KWh for 25 years and is expected to be commissioned within 24 months in Gujarat (JSW Renew Energy Eight) and Karnataka (JSW Renew Energy Four).
The wind PPA with SECI features a blended tariff of Rs 3.62/KWh for 25 years and is expected to be commissioned within 24 months in Gujarat (JSW Renew Energy Eight) and Karnataka (JSW Renew Energy Four). Currently, the total locked-in wind capacity of the Company stands at 4.8 GW.
The 300 MW grid-connected solar capacity PPA with GUVNL, awarded under Gujarat State Electricity Corporation’s RE Park at Khavda (GSECL Stage-3), has a tariff of Rs 2.66/KWh for 25 years. This project, located in Gujarat (JSW Renew Energy Ten), is expected to be commissioned within 21 months. Currently the total locked-in solar capacity of the company stands at 3.3 GW.
From: financialexpress
Financial News
