JSW Energy Ltd.'s subsidiary has entered into a power purchase agreement with the government-run SJVN Ltd. for a 700-megawatt solar project that will be part of the interstate transmission system in Rajasthan.
JSW Renew Energy (Raj) Ltd. plans to commission the project over the next two years, the company said in a statement on Monday. It did not disclose any financial information related to the project.
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The agreement is signed for the supply of power for a period of 25 years with a tariff of Rs 2.52 per KWh, JSW Energy said.
The total locked-in capacity of the company stands at 13.9 GW, comprising 7.3 GW operational, 2.6 GW under-construction across wind, thermal and hydro, and a RE pipeline of 4.0 GW. The total locked-in solar capacity after the project will reach 3.5 GW.
The company aims to reach 20 GW of generation capacity and 40 GW hours of energy storage capacity before 2030.
Shares of JSW Energy rose as much as 2.24% to Rs 750.95 apiece, as compared with a 0.57% advance in the NSE Nifty 50.
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