JSW Energy said that JSW Renew Energy Six and JSW Renew Energy Thirty have signed power purchase agreements (PPAs) with Maharashtra State Electricity Distribution Company for STU-connected solar-wind hybrid capacity.
The company has signed PPAs for two hybrid projects, each with a capacity of 600 MW, totalling 1,200 MW.
JSW Renew Energy Six and JSW Renew Energy Thirty are the step-down subsidiaries of JSW Energy.
These agreements are set for a 25-year period at a tariff of Rs 3.60 per kWh. The projects are expected to be commissioned within 24 months and will be connected to STU in Maharashtra.
"Currently, the company has a project pipeline of 8.3 GW, with PPAs signed for 4.4 GW, JSW Energy stated in an exchange filing.
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.
The scrip declined 0.64% to currently trade at Rs 672.50 on the BSE.
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