Multibagger JSW Energy stock zooms nearly 4% after unit signs PPAs for 1,325 MW of RE projects
JSW Energy, one of India's leading private sector power producers, surged nearly 4% in early morning trade to ₹739 apiece. This rise followed the announcement that the company's wholly owned subsidiary, through its subsidiaries, had signed Power Purchase Agreements (PPAs) for wind and solar projects totaling 1,325 MW.These agreements include 1,025 MW with the Solar Energy Corporation of India Limited (SECI) and 300 MW with Gujarat Urja Vikas Nigam Limited (GUVNL) for the supply of power for a period of 25 years with a tariff of ₹2.66/KWh.Notably, the 1,025 MW wind PPA is the largest single tranche PPA ever signed by SECI, featuring a blended tariff of ₹3.62 per kWh for a 25-year power supply period.On June 24, JSW Neo Energy received a Letter of Award (LoA) on June 23 for setting up a 300 MW ISTS-connected wind-solar hybrid power project from SECI.
This award was part of a tariff-based competitive bid for setting up 1,200 MW of ISTS-connected wind-solar hybrid power projects (Tranche VIII).JSW Energy has a total locked-in generation capacity of 13.6 GW, comprising 7.3 GW operational, 2.6 GW under-construction across wind, thermal, and hydro, and a RE pipeline of 3.7 GW (PPAs signed for 1.3 GW). The company also has 3.4 GWh of locked-in energy storage capacity through a battery energy storage system and hydro-pumped storage project.The company aims to reach 20 GW of generation capacity and 40 GWh of energy storage capacity before 2030.
JSW Energy has set an ambitious target of achieving carbon neutrality by 2050.The company is capitalizing on a significant clean energy market opportunity in India, positioning itself as a front-runner in the emerging hydrogen economy. It has signed an offtake agreement with JSW Steel for
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