New Delhi: On Friday, JSW Energy announced that its two subsidiaries have entered into agreements to provide 1,200 MW of electricity to Maharashtra State Electricity Distribution Company. JSW Renew Energy Six Ltd and JSW Renew Energy Thirty Ltd, which are lower-tier subsidiaries of JSW Energy, have recently entered into agreements with Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for solar-wind hybrid capacity connected to the state transmission utility (STU), as outlined in a statement released by the company. Contracts have been finalized for two hybrid projects, each with a combined capacity of 600 MW, reaching a total of 1,200 MW.
JSW Energy Expands Project Portfolio with New Contracts Aiming for 20 GW Capacity by 2030
JSW Energy stated that the awards for these projects were received on August 29, 2024, and September 10, 2024, respectively. It was stated that the projects are anticipated to be operational within 24 months, with the contracts lasting for 25 years at a rate of Rs 3.60/kWh. At present, the company has plans for projects totaling 8.3 GW, with agreements in place for 4.4 GW.
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JSW Energy has a combined generation capacity of 18.2 GW, with 7.7 GW currently operational, 2.1 GW under construction in wind, thermal, and hydro, and an additional 8.3 GW in the renewable energy pipeline. Additionally, there is a locked-in energy storage capacity of 16.2 GWh from a battery energy storage system and a hydro pumped storage project. The company's goal is to achieve a 20 GW generation capacity and 40 GWh energy storage capacity by 2030. JSW Energy has established a challenging goal to reach carbon neutrality by the year 2050.
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