JSW Renew Energy Seventeen Ltd. has signed its first wind-solar hybrid Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Ltd., or GUVNL. This marks the company’s renewed business’s first milestone, majorly in hybrid energy solutions. The 192-MW project will integrate with the State Transmission Utilities of Gujarat and is likely to come online within 24 months.
The PPA has been signed for 25 years with a tariff of Rs 3.27 per kilowatt hour (kWh). This wind-solar hybrid capacity will contribute to the burgeoning renewable energy infrastructure in India and bolster JSW Energy’s position in the sector. Hybrid energy solutions, combining wind and solar power, are becoming more important in holding the energy supply on a more stable footing and keeping it more consistent.
The JSW Energy renewable energy pipeline stands at 8.3 GW, with 3.2 GW in capacity already contracted. This new GUVNL project further extends the company’s commitment to renewable energy and sustainable power solutions. As the leading Indian energy company, JSW Energy has a total locked-in generation capacity of 18.2 GW. The firm has operational, under-construction, and pipeline renewable energy projects for 7.7 GW of operational capacity, 2.1 GW under construction, and a further 8.3 GW in the renewable energy pipeline. Its renewable portfolio comprises wind, solar, and hydroenergy sources; hence, it is intended to shift away from thermal power.
In addition to increasing its generation capacity, JSW Energy is also investing in energy storage solutions. Battery energy storage systems and hydro-pumped storage projects have collectively locked in a storage capacity of 16.2 GWh for the company. These will support the company’s broader objective of reaching an aggregate generation capacity of 20 GW and an energy storage capacity of 40 GWh by 2030.
The company’s commitment to achieving carbon neutrality by 2050 puts the company in a leadership position in the renewable energy landscape of India. The company’s current expansion of its renewable energy mix is nothing short of an energy storage innovation part of its long-term vision for sustainability. Signing this first wind-solar hybrid PPA with GUVNL underlines JSW Energy’s commitment to a more seamless energy future.
JSW Energy signing its first wind-solar hybrid power purchase agreement with GUVNL marks a landmark in the company’s journey toward more renewable energy. This ambitious company has plans to add considerably to its generation capacity, increase storage substantially, and eventually aim for carbon neutrality through enhanced renewable energy. Hence, this company is playing a big role in India’s transition to sustainable power solutions as it continues to improve its renewable energy portfolio.
Source: PTI