JSW Energy up 1% after winning long term PPA



JSW Energy announced that it had signed long-term PPA’s (Power Purchasing Agreement) that totaled 208 MW. The first is an agreement to supply the Haryana Power Purchase Centre with 176 MW to be supplied from Karcham Wangtoo Hydro Electric Project. The other agreement is a 32 MW agreement under the group captive scheme to be supplied from the Ratnagiri plant.

These agreements take the long-term PPA proportion of JSW Energy (on a consolidated basis) to 69.3% from 64.6% in Q2FY18.

The company had also signed a short-term PPA with the Power Company of Karnataka Ltd for the supply of 200 MW on short-term basis.

The signing of these PPA’s is a positive for the stock. JSW Energy Ltd is currently trading at Rs84.6, up by Rs 0.9 or 1.07% from its previous closing of Rs83.7 on the BSE. 

The scrip opened at Rs84.7 and has touched a high and low of Rs85.6 and Rs83.8 respectively. The stock touched a 52 week high of Rs89.25 on 01-Dec-2017 and a 52 week low of Rs54.7 on 27-Dec-2016. Last one week high and low of the scrip stood at Rs89.25 and Rs80.9 respectively.



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