JSW Energy Signs Major PPA with NTPC for 700 MW Solar Project

JSW Energy Ltd , a subsidiary of the JSW Group, announced on Monday that it has signed a power purchase agreement (PPA) with state-owned utility NTPC Ltd for the supply of 700 MW of solar power. The agreement stipulates a tariff of INR 2.59 (USD 0.031/EUR 0.028) per kWh over a 25-year period.

The solar project, which will be connected via the inter-state transmission system (ISTS) and the state transmission utility (STU), is expected to be commissioned by June 2026.

JSW Energy currently has a 3.2-GW solar development pipeline, with PPAs already secured for 2 GW. Its total power generation portfolio stands at 18.2 GW, which includes 7.7 GW of operational capacity and 2.1 GW under construction across wind, thermal, and hydro. The company is also expanding its renewable footprint with an 8.3-GW renewable energy pipeline and 16.2 GWh of energy storage capacity, including battery and hydro-pumped storage.

In a separate announcement, JSW Energy revealed that it had signed an energy storage agreement with Maharashtra State Electricity Distribution Company Ltd (MSEDCL) following the receipt of a letter of intent. The agreement involves the supply of 1,500 MW/12,000 MWh of pumped hydro energy storage over a 40-year period.

The Bhavali pumped hydro project, located across Nashik and Thane districts in Maharashtra, is expected to be operational within 48 months. JSW Energy will receive a fixed annual capacity charge of INR 8.466 million per MW for the project.