IMFA Signs New Agreement with JSW Renew Energy for 70 MW Hybrid Power Supply

Indian Metals and  Ferro Alloys Ltd (IMFA) has scrapped its earlier renewable power agreements with JSW Green Energy One Ltd and JSW Green Energy Seven Ltd, and inked fresh deals with JSW Renew Energy Twelve Ltd. for the supply of 70 MW hybrid renewable power.

The new Power Purchase Agreement (PPA) and Share Subscription and Shareholders Agreement (SSHA) replace earlier contracts cancelled due to a location change in sourcing. Under the fresh pact, IMFA will receive 70 MW contracted demand, comprising 55 MW solar (AC) and 108 MW wind, while subscribing to a 26 percent equity stake in the project company.

The revised investment stands at INR 85.38 crore, up slightly from the earlier INR 83.26 crore. The agreements are valid for 25 years from the project’s commercial operation, expected between June and October 2026.

IMFA said the move aligns with its captive power compliance requirements, ensuring steady renewable energy supply for operations.

The target entity, JSW Renew Energy Twelve, was incorporated in April 2024 and will generate power exclusively from renewable sources.