JSW signs PPA with SECI for 700 MW solar project
Author: PPD Team Date: October 25, 2024
JSW Energy’s step-down subsidiary, JSW Renew Energy Eleven, has signed a power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) for a 700 MW solar capacity under SECI Tranche XIII. The PPA, with a tariff of Rs 2.56/kWh, is set for 25 years, and the project is expected to be commissioned within 24 months.
JSW Energy, targeting 10 GW operational capacity by FY 2025, currently operates 7.9 GW across thermal, hydro, and renewable energy. It also has 16.2 GWh of energy storage capacity through battery energy storage systems (BESS) and hydro pumped storage. The company plans to expand to 20 GW generation capacity and 40 GWh storage capacity by 2030.
In July, Chairman Sajjan Jindal highlighted the company’s Strategy 2.0, which includes raising capex to Rs 1.15 trillion over six years to achieve these goals.