JSW Energy subsidiary get 600 MW wind-solar hybrid power project from Maharashtra State company
Sep 10, 2024
New Delhi [India], September 10 : JSW Neo Energy a wholly owned subsidiary of JSW Energy, has received an award of 600 MW of wind-solar hybrid power project from Maharashtra State Electricity Distribution Company.
The company informed the exchange in a filing on Tuesday that JSW Neo Energy, a wholly owned subsidiary of JSW Energy, has received a Letter of Award for 600 MW of Wind-Solar Hybrid Power project, including 400 MW allotted under the green shoe option from Maharashtra State Electricity Distribution Company against MSEDCL-Phase IV.
The company also highlighted that after the letter of award, the company's total locked-in generation capacity has also increased.
"As a result of this capacity award, the Company's total locked-in generation capacity has increased to 18.2 GW, which includes a total locked-in Hybrid capacity of 3.8 GW (including FDRE). The Company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently" said the company.
The company also has 4.2 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project. It aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030.
The company has set an ambitious target of achieving Carbon Neutrality by 2050. The shares of the company surged by more than 2 per cent to Rs 248.45 at the time of filing this report.
JSW Energy is a private sector power producer in India and part of the USD 24 billion JSW Group which has significant presence in sectors such as steel, energy, infrastructure, cement, sports among others. The company has established its presence across the value chains of power sector with diversified assets in power generation, and transmission.
