JSW Energy inks pact with Haryana Power Purchase Centre for 240 MW capacity; stock skids ~5%

7 Mar 2022 , 10:11 AM

In its press release today, JSW Energy Limited announced that the company through JSW Energy (Kutehr) Limited (a step-down, wholly-owned subsidiary) has entered into a long-term Power Purchase Agreement with Haryana Power Purchase Centre (PPA) for purchasing power on behalf of Uttar Haryana Bijli Vitran Nigam (UHBVN) and Dakshin Haryana Bijli Vitran Nigam (DHBVN) from the 240 MW Kutehr Hydro Electric Project located in Himachal Pradesh, carried on by JSW Energy (Kutehr) Limited.

With the signing of this PPA, the entire 240 MW capacity of the Kutehr Hydro Electric Project has been tied up on a long-term basis.

Prashant Jain, Joint Managing Director and CEO of JSW Energy, said: “Hydropower has an important role to play in achieving India’s renewable and net-zero ambitions. Being the largest private-sector operator of hydropower plants in India and having over two decades of experience in safely building and operating power projects, we continue to contribute meaningfully towards India’s hydropower and COP-26 commitments. The construction of the project is operating well and will be completed in a record time in India.”

JSW Energy has set an ambitious target for a 50% reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050 by transitioning towards renewable energy. 

JSW Energy Ltd is currently trading at Rs313 down by Rs16.45 or 4.99% from its previous closing of Rs329.45 on the BSE. The scrip opened at Rs320.80 and has touched day’s high and low of Rs321 and Rs313 respectively.