JSW Energy arm signs agreement to supply 400 MW to Karnataka discoms

JSW Energy on Friday said its arm JSW Energy (Utkal) Ltd has signed a Power Purchase Agreement (PPA) with multiple Karnataka discoms for supply of 400 MW of power, starting April 1, 2026.

The electricity will be supplied for a tenure of 25 years at a tariff of Rs 5.78 per kWh, a JSW Energy statement said.

With this PPA, JSW Energy's open capacity reduces to 5 per cent of the current operational capacity from about 8 per cent, further strengthening long-term revenue visibility and de-risking the company's generation portfolio.

The company's total locked-in generation capacity now stands at 30.5 GW, comprising 13.3 GW of operational capacity, 12.4 GW under construction across thermal and renewable projects, 150 MW of hydro capacity under acquisition, and a 4.6 GW development pipeline.

It also has 29.4 GWh of locked-in energy storage capacity, including 26.4 GWh of hydro pumped storage projects and 3.0 GWh of battery energy storage systems.

It remains committed to its strategic goals of achieving 30 GW of generation capacity and 40 GWh of energy storage capacity by FY 2030 and is on track to achieve carbon neutrality by 2050, it stated.

JSW Energy Ltd is one of the leading private sector power producers in India and part of the $23 billion JSW Group which has significant presence in sectors such as steel, energy, infrastructure, cement, sports among others.

The company is constructing various power projects to the tune of 12.4 GW, with a vision to achieve a total power generation capacity of 30 GW by 2030.