JSW Neo Energy Ltd., a wholly owned subsidiary of JSW Energy Ltd., said it has signed a power purchase agreement through its subsidiaries for 1,325 megawatts of renewable energy projects likely to be commissioned in the next 21–24 months.
A PPA for 1,025 MW of wind capacity has been signed with Solar Energy Corp. of India Ltd. It is billed as SECI's largest single-tranche PPA ever.
The company said the wind project will have a tariff of Rs 3.62/kWh for 25 years and will be commissioned within 24 months in Gujarat and Karnataka.
The total wind capacity locked in by the company is 4.8 GW.
The 300 MW solar capacity has been signed with Gujarat Urja Vikas Nigam Ltd., and the company said the tariff will be Rs 2.66 per kWh over 25 years.
The project will be commissioned in the next 21 months in Gujarat, it said.
The company's total locked-in solar capacity is 3.3 GW, it said.
JSW Energy's total locked-in capacity is 13.6 GW, which includes 7.3 GW of operational and 2.6 GW of underconstruction projects across wind, thermal, and hydro. The company's renewable energy pipeline is now at 3.7 GW, with 1.3 GW having signed PPAs, it said.
Additionally, the company has secured 3.4 GWh of energy storage capacity through battery energy storage systems and pumped hydro storage projects.
"We are committed to achieving 20 GW of generation capacity and 40 GW of energy storage capacity by 2030 and aim for carbon neutrality by 2050," Sharad Mahendra, joint managing director and CEO of JSW Energy, said.
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