JSW Energy Unit signs MoU with NTPC for 700 MW Solar Power

New Delhi: JSW Renew Energy Thirteen, a subsidiary of JSW Energy, has signed a Power Purchase Agreement (PPA) with NTPC for a 700-megawatt solar capacity. The agreement entails supplying power for 25 years at a tariff of Rs 2.59 per kilowatt hour. The project is expected to be commissioned by June 2026.

This development increases JSW Energy’s current solar pipeline capacity to 3.2 gigawatts, with PPAs already in place for 2.0 gigawatts.

JSW Energy boasts a total locked-in generation capacity of 18.2 gigawatts, which includes 7.7 gigawatts that are operational and 2.1 gigawatts that are under construction across wind, thermal, and hydro. The company also has a renewable energy pipeline of 8.3 gigawatts and 16.2 gigawatt hours of locked-in energy storage capacity through a battery energy storage system and hydro-pumped storage project.

This agreement is a significant stride towards JSW Energy’s ambitious target of achieving carbon neutrality by 2050, the statement added. The company aims to reach 20 gigawatts of generation capacity and 40 gigawatt hours of energy storage capacity before 2030.

The Shares of both JSW Energy and NTPC were trading flat at Rs 705.80 and Rs 422.05 on Monday morning.