JSW Energy Signs its First FDRE PPA with SECI

JSW Neo Energy Limited ("JSW Neo"), a wholly owned subsidiary of JSW Energy Limited ("the Company"), has signed a Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) for the supply of 230 MW ISTS connected Firm and Dispatchable Renewable Energy (FDRE) under the SECI-FDRE Tranche IV scheme.

This marks the Company's first PPA for a FDRE project. 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 stands at 12.9 GW, and its total locked-in generation capacity now stands at 30.2 GW. JSW Energy remains wellpositioned to achieve its strategic target of 30 GW installed generation capacity and 40 GWh of energy storage by 2030.

Mr. Sharad Mahendra, Joint Managing Director and CEO of JSW Energy "We are proud to announce the signing of our first Power Purchase Agreement for a loadfollowing 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."

Shares of JSW Energy Limited was last trading in BSE at Rs. 517.50 as compared to the previous close of Rs. 532.15. The total number of shares traded during the day was 88495 in over 1920 trades.

The stock hit an intraday high of Rs. 532.55 and intraday low of 511.70. The net turnover during the day was Rs. 46221465.00.

Source : Equity Bulls

Keywords

JSWEnergy INE121E01018 JSWNeoEnergy PPA SECI 230MW ISTSConnectedFDRE