JSW Energy gains as its arm signs PPA for 300 MW project in Pavagada Solar Park
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JSW Energy is currently trading at Rs. 716.75, up by 3.05 points or 0.43% from its previous closing of Rs. 713.70 on the BSE.
The scrip opened at Rs. 723.20 and has touched a high and low of Rs. 725.00 and Rs. 713.75 respectively. So far 32402 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 752.40 on 01-Jul-2024 and a 52 week low of Rs. 340.15 on 25-Aug-2023.
Last one week high and low of the scrip stood at Rs. 725.00 and Rs. 664.30 respectively. The current market cap of the company is Rs. 124738.23 crore.
The promoters holding in the company stood at 69.32%, while Institutions and Non-Institutions held 24.58% and 6.10% respectively.
JSW Energy’s wholly-owned stepdown subsidiary-- JSW Renew Energy Twenty has signed Power Purchase Agreement (PPA) with Bangalore Electricity Supply Company (BESCOM) for solar capacity of 300 MW awarded by Karnataka Renewable Energy Development (KREDL).
The PPA is signed for supply of power until FY 2044 with a tariff of Rs 2.89/KWh. The aforesaid project is located in Pavagada Solar Park, Karnataka and is expected to be commissioned in next 18 months. The current solar pipeline capacity stands at 3.2 GW with PPAs signed for 1.3 GW.
JSW Energy has total locked-in generation capacity of 16.7 GW comprising of 7.5 GW operational, 2.3 GW under-construction across wind, thermal and hydro and RE pipeline of 6.9 GW (PPAs signed for 2.3 GW). The company also has 4.2 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project. The company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving Carbon Neutrality by 2050.
JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology.
