JSW Renew Energy Ltd has signed a PPA for 270 mw of wind/blended wind capacity with Solar Energy Corporation of India (SECI). With this, it has completed the PPA-signing for the entire 810 mw of capacity won in the SECI auction.
In a stock exchange filing, JSW Energy Ltd said that its step-down wholly-owned subsidiary JSW Renew Energy Ltd has signed a power purchase agreement with SECI for 270 mw worth of wind/blended wind capacity. JSW Renew Energy Ltd is a wholly-owned subsidiary of JSW Future Energy Ltd, in turn a wholly-owned subsidiary of JSW Energy Ltd.
The story so far:
In September 2020, JSW Future Energy Ltd had received letters of award for developing 810 mw of blended wind capacity from SECI. This was in response to SECI’s invitation of bids, under the tariff-based competitive bidding route, for setting up a total 2,500 mw of ISTS-connected blended wind power projects, under Tranche IX.
In May 2021, JSW Renew Energy Ltd signed a PPA with SECI for the contracted capacity of 540 mw out of the total awarded capacity of 810 mw.
With the current development, JSW Energy has completed signing of PPA for the entire 810 mw capacity won in the auction. The duration of the PPA is 25 years.
Also read: Over Half Of JSW Energy’s Portfolio To Come From Renewables: CEO
“With the signing of this PPA, the entire 810 mw awarded capacity is tied up with SECI, and marks a milestone in the company’s endeavor to transition to become predominantly a Renewable Energy player,” the stock exchange filing by JSW Energy noted.
SECI Tender: A Background
In August 2020, SECI had accepted bids worth 970 mw, out of the total 2,500 mw put up for award under Tranche-IX. SECI had received technically- and financially-qualified bids worth 1,210 mw – coming from JSW Future Energy (1,000 mw), Vena Energy Vidyuth (160 mw) and Inox Wind Infrastructure (50 mw). After the e-reverse auction, SECI decided to award capacity aggregating 970 mw. This was done in favour of JSW Future Energy (810 mw) and Vena Energy (160 mw). JSW quoted Rs.3.00 per kwh, while Vena Energy put in a quote of Rs.2.99 per kwh. Inox Wind Infrastructure that had quoted Rs.3.41 per kwh was not awarded any capacity under this tender.
