JSW Energy Signs PPA for 300 MW Project in Pavagada Solar Park

JSW Renew Energy Twenty Limited, a wholly-owned stepdown subsidiary of JSW Energy Limited (or "The Company"), has signed Power Purchase Agreement (or "PPA") with Bangalore Electricity Supply Company Limited (or "BESCOM") for solar capacity of 300 MW awarded by Karnataka Renewable Energy Development Limited (or "KREDL").

The PPA is signed for supply of power until FY 2044 with a tariff of ₹2.89/KWh. The aforesaid project is located in Pavagada Solar Park, Karnataka and is expected to be commissioned in next 18 months. The current solar pipeline capacity stands at 3.2 GW with PPAs signed for 1.3 GW.

JSW Energy has total locked-in generation capacity of 16.7 GW comprising of 7.5 GW operational, 2.3 GW under-construction across wind, thermal and hydro and RE pipeline of 6.9 GW (PPAs signed for 2.3 GW). The company also has 4.2 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. 713.70 as compared to the previous close of Rs. 720.00. The total number of shares traded during the day was 227335 in over 7326 trades.

The stock hit an intraday high of Rs. 720.00 and intraday low of 702.25. The net turnover during the day was Rs. 161184799.00.

Source : Equity Bulls

Keywords

JSWEnergy INE121E01018 JSWRenewEnergyTwenty PPA BESCOM SolarCapacity 300MW