JSW Energy arm inks pact with NTPC for solar capacity 700 MW

JSW Energy announced that its step-down subsidiary, JSW Renew Energy Thirteen, has signed a power purchase agreement (PPA) with NTPC for ISTS/STU-connected solar capacity of 700 MW.

The PPA is signed for supply of power for a period of 25 years with a tariff of Rs 2.59/KWh. The project is expected to be commissioned by June 2026. The current solar pipeline capacity stands at 3.2 GW with PPAs signed for 2.0 GW.

JSW Energy has total locked-in generation capacity of 18.2 GW comprising of 7.7 GW operational, 2.1 GW under-constructions across wind, thermal and hydro and RE pipeline of 8.3 GW. The company also has 16.2 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project.

The company aims to reach 20 GW generation capacities and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving carbon neutrality by 2050.

JSW Energy is primarily engaged in the business of generation of power with principal places located at Vijayanagar (Karnataka), Ratnagiri (Maharashtra), Nandyal (Andhra Pradesh) and Salboni (West Bengal).

NTPC is India's largest energy conglomerate. It has presence in the entire value chain of the power generation business. As on 30 June 2024, the Government of India holds 51.10% in NTPC.

Shares of JSW Energy shed 0.26% to Rs 705 while NTPC declined 0.04% to Rs 422.35 on the BSE.

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