JSW Energy advanced 1.10% to Rs 696.80 after the company announced the signing of a power purchase agreement (PPA) with Gujarat Urja Vikas Nigam (GUVNL) for STU-connected 192 MW wind-solar hybrid capacity.
"This marks the companys first PPA for a wind-solar hybrid capacity, the Mumbai-based entity said in a statement.
The PPA is signed for supply of power for a period of 25 years with a tariff of Rs 3.27 per kWh. The project is expected to be commissioned within 24 months and will be connected to the state transmission utility (STU) in Gujarat.
The company currently has a project pipeline capacity of 8.3 GW with PPA signed for 3.2 GW.
JSW Energy has total locked-in generation capacity of 18.2 GW comprising of 7.7 GW operational, 2.1 GW under-construction across wind, thermal and hydro and RE pipeline of 8.3 GW. The company also has 16.2 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project.
JSW Energy is the power utility arm of the JSW Group. The company has its presence in power generation, power transmission, mining and power trading across multiple states.
The power generation companys consolidated net profit jumped 79.99% to Rs 521.76 crore in Q1 FY25 as compared with Rs 289.88 crore recorded in Q1 FY24. However, revenue from operations fell by 1.65% YoY to Rs 2,879.46 crore June 2024 quarter.
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