Power Generation Company Signs First 230 MW FDRE PPA with SECI at Rs 4.98/kWh, Total Locked-In Capacity Reaches 30.2 GW

DSIJ Intelligence-2 / 26 Jul 2025/ Categories: Mindshare, Trending

Power Generation Company Signs First 230 MW FDRE PPA with SECI at Rs 4.98/kWh, Total Locked-In Capacity Reaches 30.2 GW

The stock is up by 28.5 per cent from its 52-week low of Rs 419.10 per share.

JSW Neo Energy Limited (“JSW Neo”), a wholly owned subsidiary of JSW Energy Limited (“the Company”), has signed a Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) for the supply of 230 MW ISTS connected Firm and Dispatchable Renewable Energy (FDRE) under the SECI– FDRE Tranche IV scheme.

This marks the Company’s first PPA for an FDRE project. The agreement has been signed for a tenure of 25 years at a tariff of Rs 4.98 per kWh. With this, the Company’s total under-construction capacity stands at 12.9 GW, and its total locked-in generation capacity now stands at 30.2 GW. JSW Energy remains well-positioned to achieve its strategic target of 30 GW installed generation capacity and 40 GWh of energy storage by 2030.

Mr. Sharad Mahendra, Joint Managing Director and CEO of JSW Energy “We are proud to announce the signing of our first Power Purchase Agreement for a loadfollowing 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 Ltd

JSW Energy Ltd., a prominent private sector power producer in India and part of the USD 23 billion JSW Group, has diversified assets spanning power generation and transmission. The company, which began commercial operations in 2000 with its 2x130 MW thermal power plants in Vijayanagar, Karnataka, has significantly expanded its power generation capacity from 260 MW to 12.5 GW. JSW Energy is actively constructing projects totalling 12.8 GW, with an ambitious vision to reach a total power generation capacity of 30 GW by 2030, supported by strong operations, robust corporate governance, and prudent capital allocation strategies.

The company has a market cap of over Rs 90,000 crore and has been maintaining a healthy dividend payout of 20 per cent. As of June 2025, the Life Insurance Corporation of India (LIC) owns a 6.02 per cent stake. The stock is up by 28.5 per cent from its 52-week low of Rs 419.10 per share.

Disclaimer: The article is for informational purposes only and not investment advice.