JSW Energy’s subsidiaries have secured power purchase agreements (PPAs) with Maharashtra State Electricity Distribution Company Limited (MSEDCL) for two 600 MW solar-wind hybrid projects, the company announced today. The 25-year agreements were signed at a tariff of ₹3.60/kWh, with commissioning expected within 24 months.
The shares of JSW Energy Limited were trading at ₹672.95 down by ₹3.60 or 0.53 per cent on the NSE today at 10.30 am.
The projects, to be developed by JSW Renew Energy Six Limited and JSW Renew Energy Thirty Limited, will connect to Maharashtra’s state transmission utility. The company received Letters of Award for these projects on August 29 and September 10, 2024.
This development expands JSW Energy’s project pipeline to 8.3 GW, with PPAs now signed for 4.4 GW. The company currently operates 7.7 GW of power generation capacity across thermal, wind, hydro, and solar sources, with an additional 2.1 GW under construction.
JSW Energy, part of the $24 billion JSW Group, has set ambitious targets to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. The company’s diverse portfolio includes 3,508 MW thermal, 2,152 MW wind, 1,391 MW hydel, and 675 MW solar capacity, demonstrating its commitment to both conventional and renewable energy sources.