New Delhi, India, October 18, 2024: JSW Energy Limited's subsidiaries, JSW Renew Energy Six Limited and JSW Renew Energy Thirty Limited, have finalized Power Purchase Agreements (PPAs) with Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for Solar-Wind Hybrid Projects totaling 1,200 MW capacity.
The agreements, covering two projects of 600 MW each, feature a tariff of Rs 3.60 per kilowatt-hour (kWh) and are valid for 25 years. The projects are expected to be operational within 24 months, connecting to Maharashtra's State Transmission Utility (STU).
JSW Energy received Letters of Award for these projects on August 29 and September 10, 2024. The company aims to expand its renewable energy portfolio, with a current project pipeline of 8.3 GW and signed PPAs for 4.4 GW.
By 2030, JSW Energy plans to increase its total power generation capacity to 20 GW and energy storage capacity to 40 GWh. Currently, it has a locked-in generation capacity of 18.2 GW, including 7.7 GW operational and 2.1 GW under construction across various energy sectors. The company has also secured 16.2 GWh of energy storage capacity through battery systems and hydro pumped storage projects.
JSW Energy is committed to achieving carbon neutrality by 2050, reflecting its focus on sustainable energy solutions.