India's JSW inks 300-MW solar PPA, bags NTPC wind-solar order

Indian power group JSW Energy Ltd (BOM:533148), part of conglomerate JSW Group, today announced a power off-take deal for a 300-MW solar project at home and an order to build a 300-MW hybrid renewable energy park.

The power purchase agreement (PPA) was signed with Bangalore Electricity Supply Company and concerns 300 MW of capacity awarded by Karnataka Renewable Energy Development. The contract will see JSW supply power from a photovoltaic (PV) park within the Pavagada Solar Park in Karnataka until fiscal 2044 at INR 2.89 (USD 0.034/EUR 0.031) per kWh. The plant is expected to go online in the next 18 months.

In a separate bourse filing, JSW Energy said it has secured a Letter of Award from Indian state-run utility NTPC Ltd (BOM:532555) to install a wind-solar complex that will be connected to the Inter State Transmission System (ISTS). The 300-MW project was awarded to the company in a competitive tender run by the utility that sought 1 GW of ISTS-connected wind-solar projects.

With the latest award, JSW’s total locked-in power generation capacity has increased to 16.7 GW, of which 7.5 GW of operational and 2.3 GW of under-construction assets. Its goal is to reach 20 GW of installed power and 40 GWh of energy storage capacity by the end of the decade.

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