JSW Energy shares gain 2% after NTPC order, BESCOM PPA

JSW Energy Ltd shares rose 2 per cent in Friday's trade after the private sector power producer said one of its subsidiaries received an order from NTPC. Another subsidiary of JSW Energy signed a power purchase agreement (PPA) with Bangalore Electricity Supply Company Limited (BESCOM).

In the case of NTPC order, JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy, has received a letter of award for setting up 300 MW Wind-Solar Hybrid Power project. 

On the other hand, a wholly-owned stepdown subsidiary of JSW Energy, JSW Renew Energy Twenty, signed PPA with BESCOM for solar capacity of 300 MW awarded by Karnataka Renewable Energy Development.

"The PPA is signed for supply of power until FY 2044 with a tariff of Rs 2.89/KWh. The aforesaid project is located in Pavagada Solar Park, Karnataka and is expected to be commissioned in next 18 months. The current solar pipeline capacity stands at 3.2 GW with PPAs signed for 1.3 GW," it said.

JSW Energy shares rose 1.58 per cent to hit a high of Rs 725. At this price, the stock was 3.6 per cent away from its July high of Rs 752.40 

JSW Energy's total locked-in generation capacity has risen to 16.7 GW, which includes a total locked-in Hybrid capacity of 2.6 GW (including FDRE). JSW Energy expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently. 

JSW Energy has total locked-in generation capacity of 16.7 GW comprising of 7.5 GW operational, 2.3 GW under-construction across wind, thermal and hydro and renewable energy (RE) pipeline of 6.9 GW (PPAs signed for 2.0 GW). The company also has 4.2 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage
project.

JSW Energy is aiming to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. It also has a target of achieving carbon neutrality by 2050.