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JSW Neo Energy Limited, a subsidiary of JSW Energy, announced through an exchange filing that it has signed Power Purchase Agreements (PPAs) for a combined capacity of 1,325 MW of wind and solar projects.
Power Purchase Agreements Details
JSW Neo Energy has finalized agreements with two major entities:
- Solar Energy Corporation of India Limited (SECI):
- A PPA has been signed for a 1,025 MW wind power project, the largest single tranche PPA signed by SECI.
- The wind power will be supplied at a tariff of Rs 3.62 per KWh over a 25-year period.
- Energy will be sourced from Gujarat (JSW Renew Energy Eight Limited) and Karnataka (JSW Renew Energy Four Limited).
- Gujarat Urja Vikas Nigam Limited (GUVNL):
- A PPA has been signed for a 300 MW solar power project, named GSECL Stage-3.
- Solar power will be supplied at a tariff of Rs 2.66 per KWh over a 25-year period.
- The solar energy will be generated in Gujarat under JSW Renew Energy Ten Limited.
Project Timelines
The wind projects in Gujarat and Karnataka are expected to become operational within 24 months. The solar project in Gujarat is anticipated to be completed within 21 months, according to the regulatory filing.
JSW Energy’s Expanding Capacity
With these new agreements, JSW Energy’s total locked-in generation capacity now stands at 13.6 GW, comprising:
- Operational Capacity: 7.3 GW
- Under-Construction Capacity: 2.6 GW (across wind, thermal, and hydro)
- Renewable Energy Pipeline: 3.7 GW (including the 1.3 GW from the recent PPAs)
These developments highlight JSW Energy’s commitment to expanding its renewable energy portfolio and enhancing its capacity to meet growing energy demands.
