JSW Neo Energy Signs PPA With SECI Under FDRE Tranche IV

25 Jul 2025 , 11:45 AM

JSW Energy announced on Friday that its wholly-owned subsidiary, JSW Neo Energy Ltd., has signed a power purchase agreement. The power purchase agreement is signed with the Solar Energy Corporation of India (SECI). The PPA is signed for 230 MW of firm and dispatchable renewable energy (FDRE). This project falls under SECI’s FDRE Tranche IV scheme.

With this addition, the company’s under-construction power generation capacity has risen to 12.9 GW. Its total locked-in generation portfolio now stands at 30.2 GW. This is a major step toward achieving its long-term growth targets.

The company reiterated its goal of reaching 30 GW of installed generation capacity. This is by developing 540 GWh of energy storage systems by 2030, aligning with India’s push for a cleaner energy future.

Earlier this month, a step-down subsidiary, JSW Renew Energy Thirty Seven Ltd., signed a separate agreement with Rajasthan Rajya Vidyut Utpadan Nigam Ltd. (RVUNL) for a 250 MW/500 MWh standalone battery energy storage system (BESS).

The storage project will be developed under a build-own-operate model. As part of the 12-year deal, RVUNL will pay ₹2,24,000 per MW per month for the storage service. The agreement is backed by viability gap funding to make the tariff structure financially sustainable for the grid.

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