JSW Energy subsidiary signs PPA with SECI under FDRE scheme

JSW Energy, in a regulatory filing on Friday, said that its subsidiary, JSW Neo Energy, has signed a Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI).

The PPA is for the supply of 230 MW of Inter-State Transmission System (ISTS) connected Firm and Dispatchable Renewable Energy (FDRE) under the SECI– FDRE Tranche IV scheme.

JSW Neo Energy will supply power for 25 years at a tariff of ₹4.98 per kilowatt-hour (kWh).Under the terms of the agreement, JSW Neo Energy will supply power for 25 years at a tariff of ₹4.98 per kilowatt-hour (kWh).This latest agreement increases JSW Energy's total under-construction capacity to 12.9 GW, with its total locked-in generation capacity reaching 30.2 GW. The company is now well-positioned to achieve its strategic targets of 30 GW installed generation capacity and 40 GWh of energy storage by 2030.‘We are proud to announce the signing of our first Power Purchase Agreement for a load-following Firm and Dispatchable Renewable Energy project. This milestone underscores JSW Energy’s commitment to provide advanced and tailored energy solutions that address the dynamic requirements of our offtakers,’ said Sharad Mahendra, joint managing director (MD) & CEO of JSW Energy.

JSW Energy’s shares were trading 1.77per cent lower at ₹522.75 on the Bombay Stock Exchange (BSE) on Friday at 1:55pm.