JSW Neo Energy has made significant strides in its renewable energy expansion. The company has signed power purchase agreements (PPAs) through its subsidiaries for wind and solar projects with a cumulative capacity of 1,325 MW. This includes 1,025 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.
Sharad Mahendra, joint managing director and CEO of JSW Energy, said, “We are happy to have signed the power purchase agreements with SECI and GUVNL for cumulative renewable energy capacity of 1.3 GW. This includes 1 GW Wind PPA with SECI, which is India’s largest wind PPA by a single bidder in a single bid. 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.”
Key highlights:
– Largest single tranche PPA by SECI: The wind PPA of 1,025 MW is the largest single tranche PPA signed by SECI. This project features a blended tariff of Rs 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.
– Solar Capacity with GUVNL: The 300 MW grid-connected solar capacity PPA with GUVNL, awarded under Gujarat State Electricity Corporation Limited’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.
Strategic Growth and Environmental Commitment:
JSW Energy’s total locked-in generation capacity now stands at 13.6 GW, which includes 7.3 GW operational and 2.6 GW under construction across wind, thermal, and hydro projects. The company’s renewable energy pipeline is now at 3.7 GW, with 1.3 GW having signed PPAs. Additionally, JSW Energy has secured 3.4 GWh of energy storage capacity through battery energy storage systems and hydro pumped storage projects. The Company is committed to achieving 20 GW generation capacity and 40 GWh of energy storage capacity by 2030, and aims for Carbon Neutrality by 2050.
