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JSW Energy Shares Rise 5% on Power Purchase Deal with Solar Energy Corporation

The QIP received strong interest from top global investors, mutual funds, and insurance companies,

On May 8, JSW Energy’s shares surged 5% after the company’s step-down subsidiary JSW Renew Energy Three contracted a Power Purchase Agreement with Solar Energy Corporation of India.

The contract is related to 300-MW ISTS-connected wind power projects under the SECI Tranche-XII, the company mentioned in an exchange filing. The Power Purchase contract is signed for power supply for 25 years with a tariff of Rs 2.94 per kWh.

The project is positioned in Maharashtra and is expected to be commissioned in the next 24 months.

At 11:25 am, JSW Energy’s stock traded at Rs 266.60, up Rs 6.50, or 2.5%. However, the shares quoted with volumes of 44,047 shares, compared with its 30-day average of 128,866 shares, down 66%.

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