JSW Energy Subsidiary Signs 700 MW Solar Power PPA with SECI
JSW Renew Energy Eleven Limited, a step-down subsidiary of JSW Energy Ltd., has signed a Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) for supplying 700 MW of solar power to the latter.
The generated power will be supplied from JSW Renew Energy Eleven’s upcoming Inter-State Transmission System (ISTS)-connected solar power project which is expected to be commissioned in a period of 24 months.
Apart from developing this solar project on Build-Own-Operate (BOO) basis, JSW Renew Energy Eleven will be responsible for identifying land for the same. Further, the company will also ensure connection of this solar project to ISTS network after securing the necessary approvals.
In December 2023, SECI had invited bids for developing 1,500 MW of solar power projects in India. The successful bidders were selected through Tariff Based Competitive Bidding (TBCB). JSW Renew Energy Eleven secured 700 MW out of the total offered solar power capacity by quoting a tariff of Rs. 2.56 per KWh.
JSW Energy has set a target of achieving 20 GW of power generation capacity by 2030. Currently, the company has an operational capacity of 7.9 GW.