JSW Energy announced today its step-down arm JSW Renew Energy Eleven has signed a power purchase agreement (PPA) with Solar Energy Corp. of India Ltd (SECI) for a 700 MW solar project connected to the interstate transmission system. It had secured the capacity under SECI’s Tranche XIII auction.
Under the PPA, JSW Renew Energy will supply power for a period of 25 years at a tariff of INR 2.56 ($0.030)/kWh. The project is set for commissioning within 24 months.
JSW Energy targets 10 GW operational capacity by FY 2025. Currently, the company has 7.9 GW operating capacity across thermal, hydro and renewables. It also has 16.2 GWh of locked-in energy storage capacity through battery energy storage system and pumped hydro storage projects. The company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030.
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