JSW Energy Signs PPA with NHPC for 300 MW Hybrid RE Project

JSW Energy, through its step-down subsidiary Energizent Power Private Limited, has signed a 25-year Power Purchase Agreement (PPA) with NHPC Limited for a 300 MW of solar-wind hybrid power. The power will be supplied at a fixed tariff of Rs 3.49 per unit. The project will be connected to the inter-state transmission system (ISTS).

The project will be developed across Rajasthan and Andhra Pradesh. According to JSW Energy, the project is expected to be commissioned within the next 24 months. It is part of the company’s push to scale hybrid renewable capacity and enhance dispatchable green power supply.

Expanding Renewable and Storage Portfolio

With this agreement, the company’s total locked-in generation capacity rises to 29.9 GW. This includes 12.5 GW of operational capacity, 12.8 GW under construction, and an additional 4.6 GW in the pipeline across thermal, hydro, and renewable sources.

In parallel, the company has secured 29.3 GWh of energy storage capacity, including 26.4 GWh from hydro pumped storage and 2.9 GWh through battery energy storage systems (BESS).

Growth Backed by Wind Sector

JSW has set an ambitious target of reaching 30 GW of generation capacity and 40 GWh of storage capacity by the end of FY30. The company also aims to become carbon-neutral by 2050.

The group is advancing swiftly in the renewable energy sector, recording an 18 percent year-on-year growth as of March. This growth was primarily driven by the addition of 928 MW of wind power capacity during the period.

JSW’s recent moves, including Amazon’s investment in a 180 MW wind project at JSW Energy Dharapuram in Tamil Nadu, have boosted the company’s wind energy portfolio. In January 10, 2025, JSW Energy acquired a 125 MW wind project from Hetero Labs and Hetero Drugs Ltd. at an enterprise valuation of approximately INR 630 crore.

Recently, JSW Neo Energy Limited (JSW Neo), a JSW Energy Limited subsidiary, acquired a 4.7 GW renewable energy platform from O2 Power, a platform jointly established by global investment organisations EQT & Temasek in 2020.