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JSW Renew Energy Three Limited, a wholly-owned stepdown subsidiary of JSW Energy Limited, has signed Power Purchase Agreement (PPA) with Solar Energy Corporation of India Limited (SECI) for 300 MW ISTS connected wind power projects awarded under SECI Tranche-XII.
The PPA is signed for supply of power for a period of 25 years with a tariff of ₹2.94/KWh. The aforesaid project is located in Maharashtra and is expected to be commissioned in next 24 months.
The Company has set a target to reach 20 GW capacity by 2030 and near-term target of 10 GW by 2025, with a total locked-in capacity of 9.9 GW the company is well placed to achieve its targets well ahead of time. In addition, the Company has forayed into energy storage space and has currently locked in 3.4 GWh of energy storage capacity by means of battery energy storage system and hydro pumped storage project. JSW Energy has set an ambitious target for 50% reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050 by transitioning towards renewable energy.