JSW Renew Energy Signs 700 MW Solar PPA with NTPC, Aims for Carbon Neutrality

JSW Renew Energy, subsidized by JSW Energy, commits to a 700 MW solar Power Purchase Agreement with NTPC Limited. This project contributes significantly to JSW's renewable ambitions, targeting 20 GW by 2030. JSW Energy aims to achieve carbon neutrality by 2050, leveraging expansive energy storage solutions.

In a significant move aligning with its renewable energy ambitions, JSW Renew Energy Thirteen Limited, a subsidiary of JSW Energy Limited, has formalized a Power Purchase Agreement (PPA) with NTPC Limited for 700 MW of solar capacity. As per an official exchange filing, this expansive solar project will connect through the Inter-State Transmission System (ISTS) and State Transmission Utility (STU) networks, delivering power at a competitive rate of Rs2.59 per kilowatt-hour (kWh) over the next quarter-century.

Scheduled for commissioning by June 2026, this project is poised to bolster JSW Energy's growing renewable portfolio, contributing to its solar pipeline of 3.2 GW, with 2.0 GW already secured under PPAs. This agreement is pivotal in advancing the company's strategic mission of enhancing its renewable energy footprint and playing a decisive role in India's transition to cleaner energy sources.

Currently, JSW Energy's generation capacity reaches 18.2 GW, encompassing 7.7 GW of operational power and 2.1 GW of active projects in various sectors, including wind, thermal, and hydro. The company is also proactively developing an 8.3 GW renewable energy pipeline and aims to strengthen its clean energy agenda with 16.2 GWh of storage capacity through battery energy storage systems and hydro-pumped storage projects.

JSW Energy has set an ambitious target of achieving a total generation capacity of 20 GW and an energy storage capacity of 40 GWh by 2030, with an overarching goal of attaining carbon neutrality by 2050. As a leading private power producer in India, JSW Energy, a branch of the USD 24 billion JSW Group, continues to influence the power industry through ventures in steel, energy, infrastructure, cement, and sports sectors.

Founded in 2000 with its inaugural thermal power plant in Karnataka, JSW Energy has expanded its generation capabilities to 7,726 MW, which includes capacities across thermal (3,508 MW), wind (2,152 MW), hydel (1,391 MW), and solar (675 MW) projects. With ongoing projects totaling 2.1 GW and a vision to reach 20 GW by 2030, the company remains a key player at the forefront of India's dynamic power sector. (ANI)

(With inputs from agencies.)