Bangalore Discom To Get Solar Power From Pavagada At Rs 2.89/unit

Bangalore Discom Gets Solar Power From Pavagada At Rs 2.89/unit

JSW Renew Energy Twenty Limited, a subsidiary of JSW Energy Limited, has signed a Power Purchase Agreement (PPA) with Bangalore Electricity Supply Company Limited (BESCOM) for a solar capacity of 300 MW. The project was awarded by the Karnataka Renewable Energy Development Limited (KREDL), the state nodal agency for renewable energy in Karnataka.

The power purchase agreement (PPA) is for the supply of power until FY 2044 at a tariff of Rs. 2.89/KWh. The project is located in Pavagada Solar Park, Karnataka, and is expected to be commissioned in the next 18 months. The current solar pipeline capacity stands at 3.2 GW, with PPAs signed for 1.3 GW.

JSW Energy has a total locked-in generation capacity of 16.7 GW comprising 7.5 GW operational, 2.3 GW under construction across wind, thermal, and hydro, and a renewable energy (RE) pipeline of 6.9 GW (PPAs signed for 2.3 GW). The company also possesses 4.2 GWh of locked-in energy storage capacity through a battery energy storage system and hydro-pumped storage project. The company aims to reach a 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 Set to Add New Solar Capacities at Pavagada Solar Park

Earlier this year, JSW Energy Limited received a Letter of Award (LoA) from Karnataka Renewable Energy Development Limited (KREDL) for setting up a 300 MW solar power project at Pavagada Solar Park in Karnataka. Pavagada Solar Park, in the Tumkur district of Karnataka, is one of the largest solar parks in India. It is also the largest single-site solar power generator in the southern state.

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The public filing documents from JSW Energy revealed that the company has around 5,650 MW of renewable energy projects in the pipeline for which the LOA/LOI has been issued. On the other hand, the company has also signed a PPA for 2,025 MW of energy projects.

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The company now has 3,676b MW of wind project assets, 1,631 hydro project assets, and 675 MW of solar assets. JSW Energy said that its total installed renewable capacity increased from 3,059 MW in Q1FY24 to 4,028 MW in Q1FY25.