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JSW Energy on Friday said that its two arms have signed agreements to supply 1,200 MW of power to Maharashtra State Electricity Distribution Company.
JSW Renew Energy Six Ltd and JSW Renew Energy Thirty Ltd, step-down subsidiaries of JSW Energy, have signed power purchase agreements (PPAs) with Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for state transmission utility (STU)-connected solar-wind hybrid capacity, according to a company statement.
The agreements have been signed for two hybrid projects, each with a capacity of 600 MW, totalling 1,200 MW.
The letters of award for these projects were received on August 29, 2024, and September 10, 2024, respectively, JSW Energy said.
The projects are expected to be commissioned within 24 months, it said, adding that the agreements are set for a 25-year period at a tariff of Rs 3.60/kWh.
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Currently, the company has a project pipeline of 8.3 GW, with PPAs signed for 4.4 GW.
JSW Energy has total locked-in generation capacity of 18.2 GW, comprising 7.7 GW operational, 2.1 GW under-construction across wind, thermal and hydro, and RE pipeline of 8.3 GW.
It 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 capacity and 40 GWh of energy storage capacity before 2030.
JSW Energy has set an ambitious target of achieving carbon neutrality by 2050.
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