The total under-contract capacity of the Mumbai-based RE generation firm has been increased to 13.6 gigawatts with the PPAs.
A subsidiary of JSW group, JSW Neo Energy has signed power purchase agreements (PPA) for 1.3 GW with the Solar Energy Corporation of India (SECI) and Gujarat Urja Vikas Nigam Limited (GUVNL).
The company officially announced on Wednesday that it had secured wind power agreements for 1,025 MW with SECI and 300 MW with GUVNL.
The PPA with SECI includes a blended tariff of ₹3.62 per kilowatt-hour (kWh) for 25 years. JSW Renew Energy Eight Limited will commission the project in Gujarat, while JSW Renew Energy Four Ltd will handle the Karnataka installation. Both are expected to be operational within 24 months.
According to the disclosure, these agreements have increased the company’s total committed capacity to 13.6 GW, including a current wind capacity of 4.8 GW. JSW aims to reach 20 GW in renewable energy capacity by 2030.
Following the 1.3 GW deal, the company’s renewable energy portfolio now stands at 3.7 GW. It has also secured 3.4 GWh of energy storage capacity from battery energy storage systems and hydro-pumped storage projects, advancing towards its goal of 40 GWh in energy storage capacity in the future.
Sharad Mahendra, JSW Energy’s joint managing director and CEO, claimed that the pact with SECI is India’s most significant wind PPA, which a single bidder secured in a single bid in his official statement.
The Mumbai-based firm, established in 2021, is also venturing into other fields of sustainable energy. It has recently partnered with SANY Renewable Energy for 3.X MW wind turbine generators for technology licensing. Besides, it aims to support sustainable steel production by establishing a green hydrogen plant that will commence operations by the Q4 of the next fiscal year.
JSW group focuses on aligning with India’s carbon neutrality goals by 2050.
