JSW Energy Inks 700 MW Solar Power Deal with NTPC, Expands Renewable Portfolio

JSW Energy signs a 700 MW solar power purchase agreement with NTPC and a 1,500 MW pumped hydro storage deal with MSEDCL, further boosting its renewable energy portfolio.

Indian power conglomerate JSW Energy Ltd has taken a major step towards expanding its renewable energy footprint by signing a 700 MW power purchase agreement (PPA) with state-run utility NTPC Ltd. The agreement underscores JSW Energy’s commitment to scaling up its solar capacity, with power to be supplied at an attractive tariff of INR 2.59 (USD 0.031) per KWh over a 25-year period. The solar project, connected to both the inter-state transmission system (ISTS) and the state transmission utility (STU), is expected to be operational by June 2026.

JSW's Key Expansion in Solar Energy

JSW Energy, part of the JSW Group, continues its aggressive push into renewable energy, with a solar pipeline of 3.2 GW and PPAs signed for 2 GW. The company’s total generation capacity of 18.2 GW now includes a diverse mix of wind, thermal, and hydro projects. Currently, 7.7 GW is operational, while 2.1 GW is under construction, and a further 8.3 GW in renewable energy is planned. Additionally, JSW has locked in 16.2 GWh of energy storage capacity across battery and hydro pumped storage, further strengthening its green portfolio.

1,500 MW Pumped Hydro Storage Deal

In a separate announcement, JSW Energy revealed a landmark agreement with the Maharashtra State Electricity Distribution Company Ltd (MSEDCL) to provide 1,500 MW/12,000 MWh of pumped hydro energy storage. This deal comes following the receipt of a letter of intent, and JSW will earn a fixed capacity charge of INR 8.466 million per MW annually. The Bhavali pumped hydro project, located in Maharashtra’s Nashik and Thane districts, will be completed over the next four years, providing long-term energy storage solutions for the region.