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Shares of JSW Energy jumped as much as 2.2 per cent on Monday as the has secured power purchase pacts aggregating 208 MW, taking the long-term PPA proportion of the company on a consolidated basis to 69.3 per cent from 64.6 per cent.
“JSW Energy has successfully secured PPAs aggregating 208 MW...With this, the long-term PPA proportion of the company on a consolidated basis has increased from 64.6 per cent at the end of second quarter of 2017-18 to 69.3 per cent currently,” the company had said in a filing to BSE.
Following a positive open at Rs 84.70 against the previous close of Rs 83.75, the scrip touched an intraday high of Rs 85.60 and a low of Rs 83.20. In terms of equity volume, 6.63 lakh shares exchanged hands in the evening trade.
At the closing trade, the stock was up 0.18 per cent at Rs 83.90 on the BSE.
A power purchase agreement (PPA), or electricity power agreement, is a contract between two parties, one which generates electricity and the other which is looking to purchase electricity.
The pacts include a 176-MW PPA with Haryana Power Purchase Centre to be supplied from Karcham Wangtoo Hydro Electric Project of Himachal Baspa Power Company Ltd, a 100 per cent subsidiary of the company, and a 32-MW under group captive scheme to be supplied from the Ratnagiri plant of the company, it said.
According to the company’s website, JSW Energy operates 4,531 MW of power generation capacity with the vision to achieve 10,000 MW by 2020.
(With inputs from PTI)
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