JSW Energy 's wholly-owned subsidiary, JSW Neo Energy Limited, has signed a significant Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) for a 230 MW renewable energy project. This marks JSW Energy's first foray into the Firm and Dispatchable Renewable Energy (FDRE) sector, showcasing the company's commitment to diversifying its renewable energy portfolio.

Key Details of the Agreement

Impact on JSW Energy's Portfolio

The signing of this PPA has notable implications for JSW Energy's renewable energy ambitions:

• Under-construction Capacity: Increases to 12.90 GW
• Total Locked-in Generation Capacity: Now stands at 30.20 GW

This agreement aligns with JSW Energy's strategic vision to achieve an installed generation capacity of 30 GW and 40 GWh of energy storage by 2030.

Executive Insights

Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, expressed pride in this milestone, stating:

"We are proud to announce the signing of our first Power Purchase Agreement for a load-following Firm and Dispatchable Renewable Energy project. This milestone underscores JSW Energy's commitment to provide advanced and tailored energy solutions that address the dynamic requirements of our offtakers. With this project, we are strengthening our energy products and services offering while supporting the country's energy transition goals."

About JSW Energy

JSW Energy, a part of the $23 billion JSW Group, has established itself as a leading private sector power producer in India. The company has diversified assets in power generation and transmission, with a current power generation capacity of 12.80 GW. JSW Energy began its commercial operations in 2000 and has since expanded its presence across various geographic locations and fuel sources.

This latest agreement reinforces JSW Energy's position in the renewable energy sector and demonstrates its commitment to supporting India's clean energy transition. As the company continues to expand its portfolio, it remains focused on delivering sustainable growth and creating value for all stakeholders in the evolving energy landscape.

JSW Energy Limited , a leading player in India's power sector, has made significant strides in both its renewable energy portfolio and debt resolution efforts.

Withdrawal of Insolvency Proceedings

JSW Energy has successfully withdrawn the corporate insolvency resolution process for KSK Water Infrastructures Private Limited (KWIPL). This development comes after the National Company Law Tribunal, Hyderabad approved the company's settlement plan. The tribunal's order allowed the withdrawal under section 12A of the Insolvency and Bankruptcy Code, 2016. JSW Energy will now proceed with implementing the settlement plan for KWIPL's debt resolution.

FDRE Power Purchase Agreement

In a separate development, the company's wholly-owned subsidiary, JSW Neo Energy Limited, has recently inked its first Firm and Dispatchable Renewable Energy (FDRE) Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI).

Key Details of the Agreement

• Capacity: 230 MW of ISTS connected Firm and Dispatchable Renewable Energy
• Scheme: SECI-FDRE Tranche IV
• Duration: 25 years
• Tariff: ₹4.98 per kWh

Strategic Implications

These developments showcase JSW Energy's multifaceted approach to growth and financial management. The withdrawal of insolvency proceedings demonstrates the company's commitment to resolving financial issues through negotiation and settlement. Meanwhile, the FDRE agreement marks JSW Energy's entry into the FDRE project space, highlighting the company's commitment to diversifying its renewable energy portfolio.

Capacity Expansion

With the new FDRE agreement, JSW Energy has bolstered its position in the power generation sector:

Future Outlook

JSW Energy remains on track to achieve its ambitious targets set for 2030:

• Installed generation capacity: 30 GW
• Energy storage capacity: 40 GWh

Management's Perspective

Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, expressed pride in the FDRE agreement, stating, "We are proud to announce the signing of our first Power Purchase Agreement for a load-following Firm and Dispatchable Renewable Energy project. This milestone underscores JSW Energy's commitment to provide advanced and tailored energy solutions that address the dynamic requirements of our offtakers."

About JSW Energy

JSW Energy, part of the $23 billion JSW Group, has established a strong presence across the power sector value chain. The company began its commercial operations in 2000 and has since expanded its power generation capacity from 260 MW to 12.8 GW. JSW Energy's diverse portfolio includes assets in power generation and transmission, with a focus on geographic presence, fuel sources, and power off-take arrangements.

These latest developments reinforce JSW Energy's position as a key player in India's evolving energy landscape, particularly in the renewable energy sector, while also demonstrating its ability to navigate complex financial situations. As the company continues to expand its portfolio, resolve financial challenges, and work towards its 2030 goals, it is poised to play a crucial role in India's transition to cleaner and more sustainable energy sources.