JSW Neo Energy Limited (JSW Neo), a wholly-owned subsidiary of JSW Energy Limited, has secured Power Purchase Agreements (PPAs) for wind and solar projects totaling 1,325 MW. This includes 1,025 MW with the Solar Energy Corporation of India Limited (SECI) and 300 MW with Gujarat Urja Vikas Nigam Limited (GUVNL), boosting the company’s locked-in capacity to 13.6 GW.
The 1,025 MW wind PPA with SECI marks the largest single tranche PPA ever signed by SECI, featuring a blended tariff of ₹3.62/KWh for a 25-year supply period. These projects, located in Gujarat (JSW Renew Energy Eight Limited) and Karnataka (JSW Renew Energy Four Limited), are expected to be operational within 24 months, increasing the total locked-in wind capacity to 4.8 GW.
Additionally, JSW Neo signed a 300 MW grid-connected solar PPA with GUVNL under the Gujarat State Electricity Corporation Limited’s RE Park at Khavda (GSECL Stage-3). This PPA, with a tariff of ₹2.66/KWh for a 25-year period, involves a project in Gujarat (JSW Renew Energy Ten Limited) expected to be commissioned within 21 months, bringing the total locked-in solar capacity to 3.3 GW.
Overall, JSW Energy’s locked-in generation capacity now stands at 13.6 GW, comprising 7.3 GW operational, 2.6 GW under construction across wind, thermal, and hydro, and a renewable energy pipeline of 3.7 GW (with PPAs signed for 1.3 GW). The company also boasts 3.4 GWh of locked-in energy storage capacity through battery energy storage systems and hydro pumped storage projects. JSW Energy aims to achieve a generation capacity of 20 GW and 40 GWh of energy storage capacity by 2030, with a long-term goal of reaching carbon neutrality by 2050.
