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Stock Report
JSW Energy Signs PPAs for 1,325 MW of Renewable Energy Projects
Posted On : 2024-06-26 21:25:19( TIMEZONE : IST )
JSW Neo Energy Limited (or "JSW Neo"), a wholly owned subsidiary of JSW Energy Limited (or "The Company"), through its subsidiaries has signed Power Purchase Agreements (or "PPAs") for wind and solar projects with cumulative capacity of 1,325 MW comprising of 1,025 MW with Solar Energy Corporation of India Limited (or "SECI") and 300 MW with Gujarat Urja Vikas Nigam Limited (or "GUVNL"). The total locked-in capacity of the company stands at 13.6 GW.
The wind PPA of 1,025 MW is the largest single tranche PPA signed by SECI. The project has a blended tariff of ₹3.62/KWh for supply of power for a period of 25 years. The aforesaid projects are located in Gujarat (JSW Renew Energy Eight Limited) and Karnataka (JSW Renew Energy Four Limited) and expected to be commissioned within 24 months. This will take the total locked-in wind capacity to 4.8 GW.
The company has also signed PPA for 300 MW grid-connected solar capacity with GUVNL awarded under Gujarat State Electricity Corporation Limited's RE Park at Khavda (Or "GSECL Stage-3"). The PPA is signed for supply of power for a period of 25 years with a tariff of ₹2.66/KWh. The aforesaid project is located in Gujarat (JSW Renew Energy Ten Limited) and is expected to be commissioned within 21 months. This will take the total locked-in solar capacity to 3.3 GW.
JSW Energy has total locked-in generation capacity of 13.6 GW comprising of 7.3 GW operational, 2.6 GW under-construction across wind, thermal and hydro and RE pipeline of 3.7 GW (PPAs signed for 1.3 GW). The company also has 3.4 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project. The Company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving Carbon Neutrality by 2050.
Shares of JSW Energy Limited was last trading in BSE at Rs. 712.25 as compared to the previous close of Rs. 719.90. The total number of shares traded during the day was 89415 in over 4818 trades.
The stock hit an intraday high of Rs. 726.20 and intraday low of 709.75. The net turnover during the day was Rs. 64091213.00.
