JSW Energy And NTPC Ink Power Purchase Agreement For Solar Project

JSW Renew Energy Thirteen Ltd., a step-down subsidiary of JSW Energy Ltd., has signed a 25-year power purchase agreement with state-owned NTPC. The tariff for the 700 MW solar project is Rs 2.59/kilowatt hour, JSW Energy, said in an exchange filing.

"JSW Renew Energy Thirteen has signed a power purchase agreement with NTPC for ISTS/STU-connected solar capacity of 700 MW," the company said.

The project is expected to be commissioned by June 2026.

The current solar pipeline capacity stands at 3.2 GW, with PPAs signed for 2.0 GW.

Shares of JSW Energy Ltd., closed 0.55% to Rs 702.80 apiece, compared to a 0.66% advance in the benchmark NSE Nifty 50 on Monday.

It has risen 79.36% in the last 12 months and 71.91% on a year-to-date basis. The total traded volume so far in the day stood at 1.72 times its 30-day average. The relative strength index was at 63.

Six out of the 13 analysts tracking xx have a 'buy' rating on the stock, four recommend a 'hold' and three suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 0.6%.