JSW Energy share price hits 52-week high after unit signs PPA with SJVN

JSW Energy stock hits 52-week high: Shares of JSW Energy rose as much as 2.42 per cent to hit a fresh 52-week high of Rs 752.40 per share on Monday. 

The surge in the stock price came after the JSW Energy announced that its unit has inked a power purchase agreement (PPA) with SJVN.

In an exchange filing, JSW Energy said, “JSW Renew Energy (Raj) Limited, a wholly-owned step-down subsidiary of the Company, has now signed a Power Purchase Agreement with SJVN Limited for a period of 25 years with a tariff of Rs 2.52/KWh for the above capacity.”

The project is located in Rajasthan and is expected to be commissioned in the next 24 months. This will take the total locked-in solar capacity to 3.5 GW. 

 

Currently, JSW Energy possesses a total locked-in generation capacity of 13.9 GW, with 7.3 GW operational. Additionally, the company has 2.6 GW under construction across wind, thermal, and hydro sectors, alongside a renewable energy (RE) pipeline of 4.0 GW, of which PPAs have been signed for 2.0 GW.

Moreover, JSW Energy boasts 3.4 GWh of locked-in energy storage capacity, facilitated through battery energy storage systems and hydro pumped storage projects.

Looking ahead, JSW Energy aims to achieve a generation capacity of 20 GW and an energy storage capacity of 40 GWh before 2030. The company has also committed to achieving Carbon Neutrality by 2050, underscoring their ambitious sustainability goals.

JSW Energy is among the leading private sector power producers in India, and part of the $24 billion JSW Group. The company  has established its presence across the value chains of the power sector with diversified assets in power generation, and transmission. 

With strong operations, robust corporate governance and prudent capital allocation strategies, JSW Energy continues to deliver sustainable growth, and create value for all stakeholders. 

JSW Energy began commercial operations in 2000, with the commissioning of its first 2x130 MW thermal power plants at Vijayanagar, Karnataka. 

Since then, the company has steadily enhanced its power generation capacity from 260 MW to 7,290 MW having a portfolio of Thermal 3,508 MW, Wind 1,716 MW, Hydel 1,391 MW and Solar 675 MW ensuring diversity in geographic presence, fuel sources and power off-take arrangements. 

JSW Energy is presently constructing various power projects to the tune of 2.6 GW, with a vision to achieve a total power generation capacity of 20 GW before the year 2030.

The market capitalisation of JSW Energy is Rs 1,30,977.77 crore, according to Bombay Stock Exchange (BSE).

At 1:27 PM, shares of JSW Energy were trading 1.69 per cent higher at Rs 747 per share. In comparison, BSE Sensex was trading 0.44 per cent higher at 79,380.64 levels.