JSW Energy Expands Renewable Portfolio and Green Hydrogen Production in India
Key Ideas
  • JSW Neo Energy, a subsidiary of JSW Energy, has signed PPAs for 1,025 MW renewable power with SECI and 300 MW with GUVNL, with a focus on wind energy in Gujarat and Karnataka.
  • The PPAs aim to help JSW Energy reach its target of generating 20 GW of power by 2030, with a current RE pipeline of 3.7 GW and a total locked-in wind capacity of 4.8 GW.
  • JSW Energy has secured 3.4 GWh of energy storage capacity through BESS and hydro pumped storage projects, with plans for 40 GWh of energy storage capacity by 2030.
  • The company is set to commission milestone projects including a 500 MW/1,000 MWh BESS and India's largest green hydrogen production plant for green steel production, expected to be operational by FY25.
JSW Neo Energy, a subsidiary of JSW Energy, has recently signed power purchase agreements (PPAs) totaling 1,325 MW of renewable power in India. This includes a 1,025 MW wind PPA with SECI and a 300 MW PPA with GUVNL. The wind PPA, featuring a blended tariff of Rs 3.62/KWh for 25 years, is set to be commissioned within 24 months in Gujarat and Karnataka. These agreements are part of JSW Energy's strategy to achieve its target of generating 20 GW of power by 2030, with its current renewable energy pipeline standing at 3.7 GW. The company has also focused on energy storage, securing 3.4 GWh capacity through battery energy storage systems (BESS) and hydro pumped storage projects, aiming for 40 GWh by 2030. To enhance its supply chain resilience, JSW Energy has partnered with SANY Renewable Energy for technology licensing to manufacture 3.X MW wind turbine generators. Additionally, the company is working on significant projects like a 500 MW/1,000 MWh BESS and India's largest green hydrogen production plant, which will cater to green steel production. The green hydrogen plant, with a seven-year supply agreement with JSW Steel, is expected to be operational by the fourth quarter of FY25, showcasing JSW Energy's commitment to expanding renewable energy and green hydrogen production in India.
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