JSW Energy Arm Signs Pact With Adani Electricity For 250 MW Wind Capacity
The pact is signed for supply of power for a period of 25 years with a tariff of Rs 3.65 per KWh.
JSW Renew Energy Three Ltd., a step-down subsidiary of JSW Energy Ltd., has signed a power purchase agreement for STU-connected 250 MW wind capacity with Adani Electricity Mumbai Ltd.
The pact is signed for supply of power for a period of 25 years with a tariff of Rs 3.65 per KWh, according to an exchange filing on Thursday. The project is located in Maharashtra and is expected to be commissioned in the next 24 months.
The company has also commissioned 281 MW of organic renewable energy capacity with solar capacity of 215 MW and wind capacity of 66 MW, taking the current installed capacity to 12,499 MW.
With this capacity addition, the installed wind capacity stands at 3,482 MW, solar capacity at 1,968 MW and hydro capacity at 1,391 MW, taking the share of renewables in overall capacity to 55%.
JSW Energy has total locked-in generation capacity of 29.9 GW, comprising 12.5 GW operational, 12.4 GW under-construction across wind, thermal and hydro, and a pipeline of 4.9 GW, according to the filing. It also has 29.3 GWh of locked-in energy storage capacity through hydro pumped storage projects of 26.4 GWh and battery energy storage system of 2.9 GWh.
The company aims to reach 30 GW generation capacity and 40 GWh of energy storage capacity by financial year 2030. It has also set a target of achieving carbon neutrality by 2050.
Under its Strategy 3.0 growth roadmap, the company targets to achieve 30 GW of generation capacity and 40 GWh of energy storage by the financial year 2030, according to the company.
Shares of JSW Energy closed 0.19% lower at Rs 508.1 apiece on the NSE. This compares a 0.53% advance in the benchmark index Nifty 50 at close on Thursday.
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