BUSINESS
JSW Energy Limited on Thursday announced that its step down subsidiary JSW Renew Energy Seventeen Limited has signed Power Purchase Agreement (PPA) with GUVNL for STU-connected 192 MW Wind-Solar Hybrid capacity. The agreement marks the company’s first PPA for a wind-solar hybrid capacity. The PPA is signed for supply of power for a period of 25 years with a tariff of Rs 3.27/kWh. JSW Energy said that the project is expected to be commissioned within 24 months and will be connected to the STU in Gujarat. The company currently has a project pipeline capacity of 8.3 GW with PPA signed for 3.2 GW. JSW Energy has total locked-in generation capacity of 18.2 GW comprising 7.7 GW operational, 2.1 GW under-construction across wind, thermal and hydro and RE pipeline of 8.3 GW. The company also has 16.2 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project. It 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. Earlier in July, JSW Energy Chairman and Managing Director Sajjan Jindal had said that it plans to increase its capex over the next six years as it fast-tracks capacity additions. The company plans to bump its capex to Rs 1.15 trillion to reach its goal of 20 gigawatt (GW) by 2030 and 40 GWh (gigawatt hour) under Strategy 2.0. None
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