JSW Energy Signs PPA With Solar Energy Corp For 700 MW Power Project

ENA Sectors 2024-10-23 17:14:14 New Delhi, Oct 23 (KNN) JSW Renew Energy Eleven, a subsidiary of JSW Energy Limited, has entered into a significant Power Purchase Agreement (PPA) with Solar Energy Corporation of India Limited (SECI), according to a regulatory filing on Wednesday. The agreement encompasses a 700-megawatt solar power project connected to the Inter-State Transmission System under SECI Tranche XIII. The 25-year agreement establishes a fixed tariff of Rs 2.56 per kilowatt-hour for power supply, with the solar project scheduled for commissioning within 24 months. This development aligns with JSW Energy's strategic expansion in the renewable energy sector. JSW Energy, currently operating with a 7.9 GW capacity across thermal, hydro, and renewable sources, aims to expand its operational capacity to 10 GW by fiscal year 2025. The company has also secured 16.2 GWh of energy storage capacity through battery storage systems and hydro pumped storage projects. The company's long-term vision includes ambitious targets of achieving 20 GW generation capacity and 40 GWh energy storage capacity by 2030, while pursuing carbon neutrality by 2050. This latest agreement marks a significant milestone in JSW Energy's commitment to India's green energy transition. As one of India's leading private sector power producers, JSW Energy operates as part of the USD 24 billion JSW Group, which maintains a diverse portfolio across steel, energy, infrastructure, cement, and sports sectors. The company has established a comprehensive presence throughout the power sector's value chain, encompassing both generation and transmission assets. (KNN Bureau) 39689 https://knnindia.co.in/news/newsdetails/sectors/jsw-energy-signs-ppa-with-solar-energy-corp-for-700-mw-power-project 2024-10-23 17:14:14 knnindia.co.in JSW Energy Signs PPA With Solar Energy Corp For 700 MW Power Project