JSW Energy Subsidiaries Sign Major Solar-Wind Hybrid Power Agreements with Maharashtra Solar-wind hybrids can generate power more consistently by harnessing both energy sources to complement each other, especially during seasonal and daily variations in energy output.
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JSW Renew Energy Six Limited and JSW Renew Energy Thirty Limited, both step-down subsidiaries of JSW Energy Limited, have entered into significant power purchase agreements (PPAs) with the Maharashtra State Electricity Distribution Company Limited (MSEDCL), as per a regulatory filing. These deals mark a major milestone in India's push for clean energy, as the two agreements cover a combined solar-wind hybrid capacity of 1,200 MW. The projects, which will be connected to the State Transmission Utility (STU) in Maharashtra, aim to deliver power at a competitive tariff of INR 3.60 per kilowatt-hour (kWh) for a period of 25 years. These agreements stem from Letters of Award received in August and September, 2024, respectively. Each project boasts a capacity of 600 MW and is expected to be commissioned within 24 months.
JSW Energy's hybrid projects combine solar and wind energy, which are key to optimizing renewable energy generation. Solar-wind hybrids can generate power more consistently by harnessing both energy sources to complement each other, especially during seasonal and daily variations in energy output.
This latest development aligns with JSW Energy's broader goal of expanding its renewable energy portfolio. Currently, the company has a project pipeline of 8.3 gigawatts (GW) across various renewable sources, with PPAs already secured for 4.4 GW. Overall, JSW Energy boasts a total generation capacity of 18.2 GW, including 7.7 GW of operational capacity, and another 2.1 GW under construction across wind, thermal, and hydroelectric power.
In addition to its generation capabilities, JSW Energy is investing heavily in energy storage, locking in 16.2 GWh of capacity through battery storage systems and hydro pumped storage projects. The company has set an ambitious target of reaching 20 GW of generation capacity and 40 GWh of energy storage by 2030, a critical step in its strategy to become carbon neutral by 2050.
These new agreements not only reinforce JSW Energy's commitment to sustainability but also highlight the growing momentum behind India's renewable energy sector, driven by both government initiatives and private sector investment.
