JSW Energy Limited on Friday announced that JSW Renew Energy Six Limited and JSW Renew Energy Thirty Limited, step down subsidiaries of the company, have signed Power Purchase Agreements (PPAs) with Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for STU-connected Solar-Wind Hybrid Capacity.
The company has signed PPAs for two hybrid projects, each with a capacity of 600 MW, totalling 1,200 MW. The Letters of Award for these projects were received on August 29, 2024, and September 10, 2024, respectively. These agreements, it added, are set for a 25-year period at a tariff of Rs 3.60/kWh.
Per the statement released by the company, the projects are expected to be commissioned within 24 months and will be connected to STU in Maharashtra. Currently, the company has a project pipeline of 8.3 GW, with PPAs signed for 4.4 GW.
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JSW Energy has total locked-in generation capacity of 18.2 GW comprising 7.7 GW operational, 2.1 GW under-construction across wind, thermal and hydro and RE pipeline of 8.3 GW. The company also has 16.2 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project. The Company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030.
Earlier in July, JSW Energy Chairman and Managing Director Sajjan Jindal at the company’s FY24 annual general meeting, had said that the company plans to increase its capex over the next six years as it fast-tracks capacity additions. The company plans to bump its capex to Rs 1.15 trillion to reach its goal of 20 gigawatt (GW) by 2030 and 40 GWh (gigawatt hour) under Strategy 2.0.
From: financialexpress
Financial News
