JSW Future Energy Limited arm signs PPA with SECI for 450 MW capacity

JSW Future Energy Limited (earlier known as JSW Solar Limited), a wholly owned subsidiary of JSW Energy Limited, had earlier announced that it has received Letters of Award for a total Wind capacity of 450 MW from Solar Energy Corporation of India Limited (SECI) against Tariff based Competitive Bid invited by SECI for setting up of 1200 MW ISTS-connected Wind Power Projects (Tranche - X). JSW Renew Energy Two Limited, a Project SPV formed by JSW Future Energy Limited (100% subsidiary of JSW Energy Limited) has signed Power Purchase Agreements with SECI for the cumulative Contracted Capacity of 450 MW awarded against the above mentioned bid.

With the signing of this PPA, about 2,218 MW of PPAs for Wind and Solar projects have been signed by various subsidiaries of the Company in the past few months, and marks a major milestone in the Company's transition to become predominantly a renewables driven player.

The Company through its wholly owned subsidiaries i.e. JSW Future Energy Limited and JSW Hydro Energy Limited is presently constructing various renewable power projects to the tune of 2.5 GW, with a vision to achieve a total power generation capacity of 20 GW by the year 2030, when the share of renewables in the total capacity will increase to ~ 85% (from 30% currently).

Shares of JSW Energy Limited was last trading in BSE at Rs. 310.4 as compared to the previous close of Rs. 308.45. The total number of shares traded during the day was 215527 in over 4715 trades.

The stock hit an intraday high of Rs. 323.15 and intraday low of 293.1. The net turnover during the day was Rs. 66703254.

Source : Equity Bulls

Keywords