JSW Energy gains nearly 4% as its arm sign PPAs for 1,325 MW green power

JSW Energy shares hit a high of ₹739 per share on NSE, up by 3.74% from the previous close. The stock trades around 2% down from its 52-week high of ₹750 per share hit on June 25, 2024.

Shares of the company have soared around 175% from the 52-week low of ₹268.60 hit on June 28, 2023.

JSW Energy informed the stock exchanges that its wholly-owned subsidiary, JSW Neo Energy Ltd, has signed power purchase agreements (PPAs) for wind and solar projects with a cumulative capacity of 1,325 MW.

The PPAs include a pact with Solar Energy Corporation of India Limited (SECI) for 1,025 MW and with Gujarat Urja Vikas Nigam for 300 MW, bringing the company's total locked-in capacity to 13.6 GW.

The company mentioned that the wind PPA of 1,025 MW is the largest single-tranche power purchase pact signed by SECI. The project has a blended tariff of ₹3.62/KWh for 25 years of power supply. The projects are located in Gujarat and Karnataka and are expected to be commissioned within 24 months.

JSW Neo has signed a PPA for 300 MW grid-connected solar capacity with Gujarat Urja Vikas Nigam awarded under Gujarat State Electricity Corporation Limited’s RE Park at Khavda (GSECL Stage-3).

The agreement is signed for 25 years of power supply at a tariff of ₹2.66/KWh. The project is expected to be commissioned within 21 months.

JSW Energy has a total locked-in generation capacity of 13.6 GW comprising 7.3 GW operational, 2.6 GW under construction across wind, thermal and hydro and RE pipeline of 3.7 GW (PPAs signed for 1.3 GW).

JSW Energy shares closed 3.71% higher at ₹738.70 on NSE.