JSW Renew Energy Signs PPA with SECI for 700 MW Solar Power Project

JSW Renew Energy signs a Power Purchase Agreement with SECI for a 700 MW solar project, aligning with its goal to reach 10 GW capacity by FY25 and long-term carbon neutrality.

JSW Renew Energy Eleven Limited, a subsidiary of JSW Energy Limited, has signed a significant 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, marks another step forward in India’s renewable energy journey.

Competitive Solar Tariff for Long-Term Sustainability

The PPA sets a power tariff of ₹2.56 per kilowatt-hour for a period of 25 years, securing long-term cost efficiency for clean energy production. This project, awarded under SECI Tranche XIII, is expected to be commissioned within the next 24 months and will be connected to the Interstate Transmission System (ISTS), ensuring seamless distribution across states.

Advancing JSW Energy’s Ambitious Goals

This deal aligns with JSW Energy’s broader expansion strategy, aiming to achieve 10 GW of operational capacity by FY25. Currently, the company operates 7.9 GW of installed capacity across thermal, hydro, wind, and solar energy sources. With this new project, JSW is on track to further strengthen its renewable energy portfolio.

JSW Energy also has 16.2 GWh of energy storage capacity, which includes battery storage and hydro pumped storage projects, further contributing to its sustainable energy objectives.

Commitment to Carbon Neutrality and Growth

Part of the USD 24 billion JSW Group, JSW Energy is working towards achieving carbon neutrality by 2050. The company has set long-term targets of reaching 20 GW of total generation capacity and 40 GWh of energy storage capacity before 2030, underscoring its commitment to renewable energy and sustainable growth.

Since its commercial operations began in 2000, JSW Energy has significantly diversified its power generation portfolio, currently comprising 3,508 MW thermal, 2,152 MW wind, 1,391 MW hydro, and 675 MW solar capacity.