JSW Neo Energy Inks PPAs for 1.3 GW Renewables

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The wind PPA boasts a competitive blended tariff of ₹3.62 per KWh and a 25-year term.

JSW Neo Energy Ltd, a subsidiary of JSW Energy Ltd, has signed two power purchase agreements (PPAs), with Solar Energy Corp. of India Ltd (SECI) and Gujarat Urja Vikas Nigam Ltd (GUVNL), to expand its renewable energy portfolio. These deals secure 1.3 GW of clean energy capacity, bringing their total locked-in capacity to 13.6 GW.

“We’re excited to announce these agreements with SECI and GUVNL,” said Sharad Mahendra, CEO of JSW Energy. “This is a major step towards achieving our goal of generating 20 GW of power by 2030.”

The agreements include:

* A 1 GW wind PPA with Solar Energy Corp. of India Ltd (SECI), the largest single wind PPA awarded in India.
* A 300 MW solar PPA with Gujarat Urja Vikas Nigam Ltd (GUVNL).

The wind PPA boasts a competitive blended tariff of ₹3.62 per KWh (kilowatt hour) and a 25-year term. The projects will be operational within 24 months in Gujarat and Karnataka.

Building a Clean Energy Future

JSW Neo Energy is actively building its renewable energy pipeline, which now stands at 3.7 GW with this latest deal. The company has secured 3.4 GWh of energy storage capacity through battery storage and hydro projects, aiming for 40 GWh by 2030.

To ensure a reliable supply chain, JSW Energy has partnered with SANY Renewable Energy to manufacture 3. X MW wind turbine generators.

JSW Neo has almost completed a 500 MW battery energy storage system and India’s largest green hydrogen production plant for sustainable steel production. The green hydrogen plant has a 7-year supply agreement with JSW Steel Ltd and is expected to be operational by the end of the current fiscal year.

Credit: Unsplash

Source: ESG Time

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