JSW Neo Energy Ltd, part of JSW Energy Ltd, has signed power purchase agreements (PPAs) for 1,025 MW of renewable power with Solar Energy Corp. of India Ltd (SECI) and 300 MW with Gujarat Urja Vikas Nigam Ltd (GUVNL). This brings the company’s total capacity to 13.6 GW.
“We are happy to sign these agreements for 1.3 GW of renewable energy,” said Sharad Mahendra, CEO of JSW Energy. The SECI agreement includes a 1,025 MW wind PPA, the largest of its kind in India. The tariff is ₹3.62 per KWh for 25 years. The projects will be completed within 24 months in Gujarat and Karnataka.
With this deal, JSW Energy’s renewable pipeline is now 3.7 GW. The company also has 3.4 GWh of energy storage capacity through battery energy storage systems and hydro pumped storage projects, aiming for 40 GWh by 2030.
To reduce risks in its supply chain, JSW Energy has made a technology licensing deal with SANY Renewable Energy to manufacture 3.X MW wind turbine generators.
The company is also working on major projects in energy storage and green hydrogen production, including a 500 MW battery energy storage system and India’s largest green hydrogen plant for green steel production. The green hydrogen plant, with a 7-year supply deal with JSW Steel Ltd, is expected to be ready by the fourth quarter of this fiscal year (FY25).
