JSW Energy signs 25-year PPA to supply 700 MW solar power to NTPC
This solar project will be connected via Inter-State Transmission System (ISTS) and State Transmission Utility (STU) networks, supplying power at a tariff rate of Rs2.59 per kilowatt-hour (kWh) for the next 25 years.
ANI
Oct 14, 2024 15:44 IST
New Delhi [India], October 14 (ANI): JSW Renew Energy Thirteen Limited, a step-down subsidiary of JSW Energy Limited, has announced the signing of a Power Purchase Agreement (PPA) with NTPC Limited for a solar capacity of 700 MW.
According to an exchange filing, this solar project will be connected via Inter-State Transmission System (ISTS) and State Transmission Utility (STU) networks, supplying power at a tariff rate of Rs2.59 per kilowatt-hour (kWh) for the next 25 years.
The project, which is expected to be commissioned by June 2026, is a key part of JSW Energy's expanding renewable energy portfolio.
The company currently has a solar pipeline capacity of 3.2 GW, of which 2.0 GW already has signed PPAs. This agreement marks a significant step towards the company's goal of expanding its renewable energy footprint and contributing to India's energy transition.
JSW Energy's total generation capacity now stands at 18.2 GW, which includes 7.7 GW of operational capacity and 2.1 GW of ongoing projects across wind, thermal, and hydro segments.
The company also boasts a renewable energy pipeline of 8.3 GW. To bolster its clean energy strategy, JSW Energy is developing a storage capacity of 16.2 GWh through battery energy storage systems and hydro-pumped storage projects.
The company is targeting a total generation capacity of 20 GW and energy storage capacity of 40 GWh by 2030, with an overarching goal of achieving carbon neutrality by 2050.
JSW Energy Limited is a prominent private-sector power producer in India and part of the USD 24 billion JSW Group, which operates in sectors such as steel, energy, infrastructure, cement, and sports.
Established in 2000 with its first thermal power plant in Karnataka, the company has grown its generation capacity to 7,726 MW, comprising thermal (3,508 MW), wind (2,152 MW), hydel (1,391 MW), and solar (675 MW) projects.
With ongoing projects totaling 2.1 GW and a vision to reach 20 GW of total capacity before 2030, JSW Energy continues to be at the forefront of India's evolving power sector. (ANI)
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