JSW Renew Energy Eleven Limited, a step-down subsidiary of JSW Energy Limited, has signed a Power Purchase Agreement (PPA) with the Solar Energy Corporation of India Limited (SECI) for a 700 MW solar capacity project awarded under SECI Tranche XIII. This agreement is set to last for 25 years with a tariff of ₹2.56 per kWh. The project is expected to be commissioned within 24 months.
As of now, JSW Energy shares are trading at ₹669.80 on the BSE. Recently, the stock has experienced a decline of over 14% in the past month, although it has rallied by 63% so far in 2024. The shares reached a 52-week high of ₹804.95 on September 24, 2024, and a low of ₹347.50 on October 25, 2023. The company’s current market capitalization stands at ₹1,17,065.53 crore.
JSW Energy aims to achieve an operational capacity of 10 GW by FY 2025, currently holding 7.9 GW of capacity across thermal, hydro, and renewable energy sources. Additionally, the company possesses 16.2 GWh of locked-in energy storage capacity through battery energy storage systems and hydro pumped storage projects. Looking ahead, JSW Energy targets a total generation capacity of 20 GW and 40 GWh of energy storage capacity by 2030, alongside an ambitious goal of achieving carbon neutrality by 2050.
With a strong foundation in the power sector and a commitment to sustainable growth, JSW Energy continues to deliver value to its stakeholders while expanding its renewable energy initiatives.
Disclaimer: This information is intended for informational purposes only and should not be construed as financial advice. The investment in stocks and securities involves risks, and past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. The author and affiliated parties do not accept any liability for losses or damages arising from reliance on the information provided.
Leave a Reply