IMFA signs new renewable power agreement with JSW Renew

Indian Metals & Ferro Alloys Limited (IMFA) has terminated earlier renewable power arrangements with two JSW Green Energy entities and entered into fresh agreements with JSW Renew Energy Twelve Limited to source 70 MW of hybrid renewable power.

The previous power purchase agreement (PPA) and share subscription and shareholders agreement (SSHA), signed in January and March 2025 with JSW Green Energy One Limited and JSW Green Energy Seven Limited, were cancelled because of a location change. The contracts, covering 50 MWac of solar and 100 MW of wind capacity, along with a proposed 26 per cent IMFA equity stake, were mutually terminated on 10 September 2025 after the planned substation of the Central Transmission Utility was not available at the site.

On the same day, IMFA executed fresh PPA and SSHA agreements with JSW Renew Energy Twelve Limited. The new deal secures 70 MW of contracted demand through 55 MWac of solar and 108 MW of wind capacity. IMFA will also subscribe to 26 per cent equity in the project company.

The project is scheduled to begin operations between June and October 2026. The agreements will remain valid for 25 years from the project’s commercial operation date. The revised investment is Rs 85.38 crore, slightly higher than the earlier Rs 83.26 crore.