JSW Neo Energy inks power purchase deal with SECI for FDRE project

JSW Energy officially announced here that its arm JSW Neo Energy has signed a Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI).

“We are proud to announce the signing of our first Power Purchase Agreement (PPA) for a load-following Firm and Dispatchable Renewable Energy project. This milestone underscores JSW Energy’s commitment to provide advanced and tailored energy solutions that address the dynamic requirements of our offtakers. With this project, we are strengthening our energy products and services offering while supporting the country’s energy transition goals,” JSW Energy Joint Managing Director & CEO Sharad Mahendra said.

Advertisement

According to a company statement, the deal would enable the supply of 230 MW ISTS connected Firm and Dispatchable Renewable Energy (FDRE) under the SECI-FDRE Tranche IV scheme, adding that this development marks the company’s first PPA for an FDRE project.

The agreement has been signed for a tenure of 25 years at a tariff of Rs 4.98 per kWh, according to the statement.

After this development, the company’s total under-construction capacity stood at 12.9 GW, and its total locked-in generation capacity is at 30.2 GW.

The deal ensures that JSW Energy is well-positioned to achieve its strategic target of 30 GW installed generation capacity and 40 GWh of energy storage by 2030.