JSW Energy Inks PPA with SECI for 700 MW Solar Project, Shares To Be In Focus

JSW Renew Energy Eleven Limited, a step-down subsidiary of JSW Energy Limited today signed Power Purchase Agreement ("PPA") with Solar Energy Corporation of India Limited ("SECI"), for ISTS Agreement connected 700 MW solar capacity awarded under SECI Tranche XIII. The PPA has been signed to supply power for 25 years with a tariff of ₹2.56/kWh. The aforesaid project is expected to be commissioned within 24 months. Current market price of JSW Energy shares on BSE is Rs 669.80 per share. JSW Energy shares slipped over 14% in last 1-month and witnessed rally of 63% so far in 2024.

JSW Energy aims to achieve 10 GW operational capacity by FY 2025 and currently has 7.9 GW of operational capacity spread across thermal, hydro and RE. The company also has 16.2 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project. The Company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving Carbon Neutrality by 2050.

JSW Energy Shares Performance: The 52-week high price of JSW Energy shares on BSE is Rs 804.95 per share (24/09/2024) and 52-week low price is Rs 347.50 per share (as on 25/10/2023), respectively. JSW Energy has a market capitalisation of Rs 1,17,065.53 crore. JSW Energy gained 72% in last 1-year and jumped 894% in last 5-years. The company had recommended a dividend of Rs 2 per share and shares traded ex-dividend on May 31, 2024.

About JSW Energy: JSW Energy Ltd is one of the leading Private sector power producers in India and part of the USD 24 billion JSW Group which has significant presence in sectors such as steel, energy, infrastructure, cement, sports among others. JSW Energy Ltd has established its presence across the value chains of power sector with diversified assets in power generation, and transmission. With strong operations, robust corporate governance and prudent capital allocation strategies, JSW Energy continues to deliver sustainable growth, and create value for all stakeholders.