JSW Energy Limited’s subsidiary has secured a 25-year power purchase agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for a 192 MW wind-solar hybrid project. The agreement, signed through JSW Renew Energy Seventeen Limited, marks the company’s first hybrid PPA with a tariff set at ₹3.27/kWh.
The shares of JSW Energy Limited were trading at ₹690.85, up by ₹1.55 or 0.22 per cent on the NSE today at 11.05 a.m.
The state transmission utility (STU)- connected project in Gujarat is scheduled for completion within 24 months. This development adds to JSW Energy’s growing renewable energy portfolio, which currently includes a project pipeline of 8.3 GW, of which 3.2 GW has secured PPAs.
JSW Energy’s total generation capacity is 18.2 GW, comprising 7.7 GW of operational assets, 2.1 GW under construction across wind, thermal, and hydro projects, and the 8.3 GW renewable energy pipeline. The company also maintains 16.2 GWh of energy storage capacity through battery and hydro-pumped storage systems.
Part of the USD 24 billion JSW Group, JSW Energy aims to expand its generation capacity to 20 GW and storage capacity to 40 GWh before 2030. The company has also set a target to achieve carbon neutrality by 2050, reflecting its commitment to sustainable power generation.