JSW Energy Giants Seal PPA Deal for 1,200 MW Solar-Wind Hybrid Power

JSW Energy Limited's subsidiaries have signed a Power Purchase Agreement with Maharashtra's MSEDCL for 1,200 MW of solar-wind hybrid projects. These projects, each 600 MW, are expected to be operational within two years. JSW plans to significantly expand its energy portfolio by 2030, aiming for carbon neutrality by 2050.

JSW Energy Limited has announced the signing of Power Purchase Agreements (PPAs) via its subsidiaries with Maharashtra State Electricity Distribution Company Ltd (MSEDCL), as per a filing on Friday. The agreements cater to 1,200 MW of solar-wind hybrid projects; both projects are divided into 600 MW each.

Having secured Letters of Award for these projects on August 29 and September 10, 2024, the PPAs will remain in effect for 25 years, fixed at a tariff of Rs 3.60 per kilowatt-hour (kWh). The projects aim for completion within the next two years, connecting to Maharashtra's State Transmission Utility (STU).

This development aids JSW Energy in enhancing its renewable energy portfolio. Presently, JSW Energy handles 8.3 GW in projects, with PPAs signed for 4.4 GW. By 2030, the company aims to boost its power generation to 20 GW and energy storage to 40 GWh, pledging carbon neutrality by 2050.

(With inputs from agencies.)