Shares of JSW Energy Limited saw an increase in price by 2.38% on July 1, when JSW Renew Energy Limited, a fully owned subsidiary of JSW Energy Limited, signed an agreement with SJVN Limited to supply 700 MW of solar power. The agreement is for 25 years at a tariff of Rs 2.52/kilowatt-hour (KWh).

As per the company’s recent exchange filing, the project, located in Rajasthan is expected to be operational within the next 24 months, adding to the total solar capacity of 3.5 GW (Gigawatt).

JSW Energy’s total generation capacity is currently 13.9 GW, of which 7.3 GW is operational and 2.6 GW is under construction across wind, thermal, and hydro.

Additionally, the company has signed Power Purchase Agreements for 2.0 GW of renewable energy. Besides, JSW Energy has 3.4 GWh of locked-in energy storage capacity from a battery energy storage system and hydro-pumped storage project.

The company aims to achieve a 20 GW generation capacity and 40 GWh of energy storage capacity by 2030. Furthermore, JSW Energy has set the ambitious target of reaching Carbon Neutrality by 2050.

JSW Energy Ltd is one of the leading private sector power producers in India and part of the USD 24 billion JSW Group. It has a significant presence in sectors such as steel, energy, infrastructure, cement, and sports.

The company has diversified assets in power generation and transmission, with a current capacity of 7,290 MW and plans to achieve a total power generation capacity of 20 GW by 2030.

At 3:30 pm, the shares of JSW Energy Limited traded 1.47% higher at Rs 745.30 on the NSE.