JSW Renew Energy Three Limited, a wholly-owned stepdown subsidiary of JSW Energy Limited, has signed power purchase agreement (PPA) with Solar Energy Corporation of India Limited (SECI) for 300 MW interstate transmission system (ISTS) connected wind power projects awarded under SECI Tranche-XII.
The PPA is signed for supply of power for a period of 25 years at a tariff of Rs 2.94 per kWh. The project is located in Maharashtra and is expected to be commissioned in next 24 months. The company has set a target to reach 20 GW capacity by 2030 and near-term target of 10 GW by 2025, with a total locked-in capacity of 9.9 GW. Further, JSW Energy has set a target for 50 per cent reduction in carbon footprint by 2030 and achieving carbon neutrality by 2050 by transitioning towards renewable energy.