JSW Energy Shares in Focus: Signed PPA With SECI

On October 23, 2024, JSW Renew Energy Eleven Limited, a step-down subsidiary of JSW Energy Limited, signed a Power Purchase Agreement (PPA) with the Solar Energy Corporation of India Limited (SECI) for a 700 MW solar capacity connected to the Interstate Transmission System (ISTS), awarded under SECI Tranche XIII.

The PPA secures power supply for 25 years at a tariff of ₹2.56/kWh. The project is anticipated to be commissioned within 24 months.

JSW Energy aims to achieve 10 GW of operational capacity by FY 2025, currently having 7.9 GW across thermal, hydro, and renewable energy sources. The company also has 16.2 GWh of secured energy storage capacity through its battery energy storage systems and hydro-pumped storage projects. Additionally, JSW Energy targets reaching 20 GW of generation capacity and 40 GWh of energy storage capacity by 2030, with an ambitious goal of achieving carbon neutrality by 2050.

Recently, JSW Neo Energy Limited, a wholly-owned subsidiary of the Company, executed definitive agreements to acquire 3 special purpose vehicles (3 SPVs) collectively holding a portfolio of 125 MW of Wind Energy generation capacity from Hetero Labs Limited and Hetero Drugs Limited.

On October 23, 2024, JSW Energy shares opened at ₹665.00 and touched the day low of ₹650.00, reflecting a fall of 1.15% at 11:01 AM. 

About JSW Energy Limited

JSW Energy Ltd is one of the leading Private sector power producers in India and part of the USD 24 billion JSW Group which has a significant presence in sectors such as steel, energy, infrastructure, cement, and sports among others.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.