JSW Energy signs power purchase agreement with SECI for FDRE project

JSW Energy on Friday said its arm JSW Neo Energy has signed a Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI).

The agreement is for the supply of 230 MW ISTS connected Firm and Dispatchable Renewable Energy (FDRE) under the SECI-FDRE Tranche IV scheme, a company statement said, adding that this marks the company's first PPA for a FDRE project.

According to the statement, the agreement has been signed for a tenure of 25 years at a tariff of ₹4.98 per kWh.

With this, the company's total under-construction capacity stood at 12.9 GW, and its total locked-in generation capacity was at 30.2 GW.

JSW Energy remains well-positioned to achieve its strategic target of 30 GW installed generation capacity and 40 GWh of energy storage by 2030.

"We are proud to announce the signing of our first Power Purchase Agreement for a load-following Firm and Dispatchable Renewable Energy project. This milestone underscores JSW Energy's commitment to provide advanced and tailored energy solutions that address the dynamic requirements of our offtakers.

"With this project, we are strengthening our energy products and services offering while supporting the country's energy transition goals," Sharad Mahendra, Joint Managing Director and CEO of JSW Energy said.