JSW Energy shares in focus as arm inks PPA with NHPC in two states

Shares of JSW Energy are in news today as the firm through its step-down subsidiary Energizent Power, has inked a 25-year power purchase agreement (PPA) with NHPC Ltd. This agreement pertains to the development of a 300-MW solar-wind hybrid capacity. The project will utilise the inter-state transmission system (ISTS) and is scheduled to span across the states of Rajasthan and Andhra Pradesh.

The tariff for this project has been set at ₹3.49 per kWh.

In the previous session, JSW Energy's shares closed at ₹507.05 on the NSE, marking an increase of 0.43% ahead of this announcement. This strategic move is expected to bolster JSW Energy's market position and enhance its portfolio significantly.

The agreement aligns with JSW Energy's broader strategy of advancing its presence in the renewable energy sector. Currently, the company boasts a total locked-in generation portfolio of 29.9 GW, which includes 12.5 GW of operational capacity and an additional 12.8 GW under construction.

In efforts to enhance their energy storage, JSW Energy possesses 29.3 GWh of energy storage capacity, comprising both hydro pumped storage and battery systems.

The company has set ambitious targets, aiming for a 30 GW generation capacity and a 40 GWh storage capacity by FY30, while achieving carbon neutrality by 2050. These goals reflect JSW Energy's commitment to sustainable growth and innovation in energy solutions.

This development is a significant step in JSW Energy's pursuit of expanding its footprint in India's renewable energy market. By strengthening its renewable energy portfolio, the company is positioning itself to meet its long-term sustainability goals.

This initiative not only supports the company's aggressive approach toward renewable energy but also contributes to India's broader energy transition efforts. With this agreement, JSW Energy is poised to play a pivotal role in shaping the future of energy in the region, aligning with national objectives for clean energy.