JSW Energy’s Arm Inks First Hybrid Power Purchase Agreement with GUVNL – EQ

In Short : JSW Energy’s subsidiary has signed its first hybrid power purchase agreement with Gujarat Urja Vikas Nigam Limited (GUVNL). This agreement aims to enhance the renewable energy mix by combining solar and wind power, supporting GUVNL’s commitment to sustainable energy. The collaboration is expected to contribute significantly to the region’s energy needs while promoting clean and reliable power sources.

In Detail : JSW Energy Ltd on Thursday said its arm JSW Renew Energy Seventeen Ltd has signed Power Purchase Agreement with Gujarat Urja Vikas Nigam Ltd (GUVNL) for STU-connected 192 MW wind-solar hybrid capacity.

This agreement marks the company’s first Power Purchase Agreement (PPA) for a wind-solar hybrid capacity, the company said in a statement to BSE.

The PPA is signed for supply of power for a period of 25 years with a tariff of Rs 3.27/kWh, according to the statement.

The project is expected to be commissioned within 24 months and will be connected to the STU (State Transmission Utilities) in Gujarat.

The company currently has a project pipeline capacity of 8.3 GW with PPA signed for 3.2 GW.

JSW Energy has total locked-in generation capacity of 18.2 GW comprising 7.7 GW operational, 2.1 GW under-construction across wind, thermal and hydro and RE pipeline of 8.3 GW.

The company also has 16.2 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project.

The company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030.

JSW Energy has set an ambitious target of achieving Carbon Neutrality by 2050.