JSW Energy's step-down subsidiary JSW Renew Energy Eleven has signed power purchase agreement (PPA) with Solar Energy Corporation of India (SECI), for ISTS-connected 700 MW solar capacity awarded under SECI Tranche XIII.

The PPA is signed for supply of power for a period of 25 years with a tariff of Rs 2.56/kWh. The project is expected to be commissioned within 24 months. 

JSW Energy aims to achieve 10 GW operational capacity by FY 2025 and currently has 7.9 GW of operational capacity spread across thermal, hydro and RE. The company also has 16.2 GWh of locked-in energy storage capacity through battery energy storage system (BESS) and hydro pumped storage project.

The company aims to reach 20 GW generation capacity, and 40 GWh of energy storage capacity before 2030.

Earlier in July, JSW Energy Chairman and Managing Director Sajjan Jindal had stated regarding plans to increase its capex over the next six years, and raise its capex to Rs 1.15 trillion to achieve 20 GW by 2030 and 40 GWh under Strategy 2.0.