JSW Energy Arm Neo Energy Signs Major Power Purchase Agreements For 1,325 MW Of Renewable Energy Projects

JSW Energy Arm, JSW Neo Energy Limited, on Wednesday, through an exchange filing announced that the company has signed a Power Purchase Agreements (PPAs) for a combined capacity of 1,325 MW of wind and solar projects.

About the Power Purchase Agreements

JSW Neo Energy has entered into agreements with two major entities.

1. Solar Energy Corporation of India Limited (SECI):

The company signed an agreement with SECI for a wind power project with a capacity of 1,025 MW and is the largest single tranche PPA signed by SECI.

It will supply power at a tariff of RS 3.62 per KWh over a 25-year period. This wind energy will be harnessed from two key location, one from Gujarat (JSW Renew Energy Eight Limited) and the other Karnataka (JSW Renew Energy Four Limited).

2. Gujarat Urja Vikas Nigam Limited (GUVNL):

PPA signed with GUVNL for a 300 MW solar power project and the project named as GSECL Stage-3, will supply power at a tariff of Rs 2.66 per KWh over a 25-year period.

The solar energy will be generated in Gujarat under JSW Renew Energy Ten Limited.

Project Timelines

The wind projects in Gujarat and Karnataka are expected to be operational within 24 months. The solar project in Gujarat is expected to be completed within 21 months, the company added in the regulatory filing.

JSW Energy’s Growing Capacity

With these new agreements, JSW Energy's total locked-in generation capacity stands at 13.6 GW. This includes-

1. Operational Capacity - 7.3 GW

2. Under-Construction Capacity - 2.6 GW (across wind, thermal, and hydro)

3. Renewable Energy Pipeline - 3.7 GW (including the 1.3 GW from the recent PPAs)

4. Energy Storage - 3.4 GWh through battery energy storage systems and hydro pumped storage projects

Share performance

The shares of the company on Wednesday closed at Rs 711.90, down by 1.14 per cent.