JSW Neo Energy, a subsidiary of the Indian power company JSW Energy, has secured Power Purchase Agreements (PPAs) for wind and solar projects in India totalling 1,325 MW. The PPAs were made with Solar Energy Corporation of India (SECI) and Gujarat Urja Vikas Nigam Limited (GUVNL). SECI’s PPA corresponds to 1,025 MW of wind capacity with a blended tariff of INR3.62/KWh (US$0.04/KWh) for a 25-year supply period and is expected to be commissioned within 24 months in the Indian states of Gujarat and Karnataka. The 300 MW of solar capacity PPA signed with GUVNL has a tariff of INR2.66/ KWh (US$0.03/KWh) for a 25-year period and is expected to be commissioned within 21 months. With these PPAs, JSW’s total locked-in wind and solar capacity stands at 4.8 GW and 3.3 GW, respectively.
India aims to increase its non-fossil fuel capacity to 500 GW. At the end of 2023, solar and wind accounted for nearly 24% of installed capacity in India, with respectively 73 GW and 45 GW.
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