SJVN Ltd, JSW Energy Signs PPA for 700 MW ISTS-Connected Solar capacity

SJVN Ltd, JSW Energy Signs PPA for 700 MW ISTS-Connected Solar capacity

 JSW Renew Energy Limited, a wholly-owned step-down subsidiary of JSW Energy Limited, has signed a Power Purchase Agreement with SJVN Limited for an ISTS-connected solar capacity of 700 MW. The total locked-in capacity of the company stands at 13.9 GW.

The PPA is signed for power supply for 25 years with a tariff of ?2.52/KWh. The project as mentioned earlier is located in Rajasthan and is expected to be commissioned in the next 24 months. This will take the total locked-in solar capacity to 3.5 GW.

JSW Energy has a total locked-in generation capacity of 13.9 GW comprising 7.3 GW operational, 2.6 GW under construction across wind, thermal, and hydro, and an RE pipeline of 4.0 GW (PPAs signed for 2.0 GW).

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The company also has 3.4 GWh of locked-in energy storage capacity through a battery energy storage system and hydro-pumped storage projects. The Company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving Carbon Neutrality by 2050.

In addition to this, JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy Limited, has received a Letter of Award for setting up a 300 MW ISTS-connected Wind-Solar Hybrid Power Project from SJVN Limited against Tariff a Competitive Bid invited for setting up 1,500 MW ISTS-connected Wind-Solar Hybrid Power Projects (Hybrid-2).

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After this capacity award, the Company's total locked-in capacity increases to 13.9 GW. The Company expects to have an installed generation capacity of 9.8 GW by CY24, up from 7.3 GW currently.

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