JSW Energy Limited is a top renewable energy company in India and a leading power generation company in India. Committed to the efficient utilization of all available resources, JSW Energy stands out in the private sector as a prime example of sustainable growth. The company expertly manages operations to enhance social and economic benefits while minimizing environmental impacts through cutting-edge innovation. Over the years, JSW Energy has grown steadily and strongly, becoming a prominent energy company in India.
Today, JSW Energy not only has a significant presence across various Indian states but also holds stakes in natural resource companies in South Africa, showcasing its expansion in power generation and distribution on a global scale.
JSW Energy shares gained over 2.5% in the early deals on Tuesday, August 27, after the company said its subsidiary JSW Neo Energy Ltd has secured a fresh contract from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) to establish a 200 MW wind-solar hybrid power project.
The letter of award comes as a part of MSEDCL’s Phase III tariff-based competitive bidding process, JSW Energy said in a regulatory filing.
With this new capacity addition, JSW Energy’s total locked-in generation capacity has increased to 17.2 GW, including 2.9 GW of hybrid capacity. The company’s current operational capacity stands at 7.5 GW, with a target to reach 10 GW by FY25.
JSW Energy’s portfolio now includes 7.5 GW of operational capacity, 2.3 GW under construction across wind, thermal, and hydro projects, and a renewable energy pipeline of 7.3 GW, with power purchase agreements (PPAs) signed for 2.3 GW.
Looking ahead, JSW Energy aims to expand its generation capacity to 20 GW and its energy storage capacity to 40 GWh by 2030. The company has also set a long-term goal of achieving carbon neutrality by 2050 aligning with its strategy to become a comprehensive energy products and services provider.
On August 23, JSW Neo Energy Ltd received a Letter of Award (LoA) from state-owned NTPC Ltd for a 300 MW ISTS-connected Wind-Solar Hybrid Power Project. This project was part of NTPC’s Tranche-VI, which aims to develop 1,000 MW of ISTS-connected wind-solar hybrid power projects.
On the same day, JSW Energy announced that its wholly-owned subsidiary, JSW Renew Energy Twenty Ltd, signed a Power Purchase Agreement (PPA) with Bangalore Electricity Supply Company Ltd (BESCOM) for a 300 MW solar project. The project was awarded by Karnataka Renewable Energy Development Ltd (KREDL).