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JSW Renew Energy Eleven Limited, a step-down subsidiary of JSW Energy Limited, has signed a Power Purchase Agreement (PPA) with Solar Energy Corporation of India Limited (SECI) for a 700 MW solar power project.
The agreement, announced on October 23, 2024, sets the power tariff at ₹2.56 per kilowatt-hour for a 25-year period, a press release said.
The shares of JSW Energy Limited were trading at ₹668.95 down by ₹1.30 or 0.19 per cent on the NSE today at 10.15 am.
The project, awarded under SECI Tranche XIII, is expected to be commissioned within 24 months. It will be connected to the Interstate Transmission System (ISTS).
The deal aligns with JSW Energy’s expansion strategy to achieve 10 GW operational capacity by FY25. Currently, the company operates 7.9 GW of capacity across thermal, hydro, and renewable energy sources.
It also maintains 16.2 GWh of energy storage capacity through battery storage and hydro pumped storage projects.
JSW Energy, part of the $24 billion JSW Group, has set longer-term goals of reaching 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. The company has also committed to achieving carbon neutrality by 2050.
Since its commercial operations began in 2000, JSW Energy has expanded its power generation portfolio to include 3,508 MW thermal, 2,152 MW wind, 1,391 MW hydel, and 675 MW solar capacity.
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