JSW Energy inks pact with SECI for 700 MW solar project

JSW Energy on Wednesday said its arm JSW Renew Energy Eleven inked a Power Purchase Agreement with Solar Energy Corporation of India (SECI) to supply power from its 700 MW solar project.

The power purchase agreement (PPA) is signed for the supply of power for a period of 25 years with a tariff of Rs 2.56/kWh. The project is expected to be commissioned within 24 months, according to a company statement.

JSW Renew Energy Eleven Ltd, a step-down a subsidiary of JSW Energy, has signed a PPA with SECI, for ISTS connected 700 MW solar capacity awarded under SECI Tranche XIII, the statement said.

JSW Energy aims to achieve 10 GW operational capacity by FY25 and currently has 7.9 GW of operational capacity spread across thermal, hydro and RE. The company also has 16.2 GWh of locked-in energy storage capacity through a 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.