JSW Energy to target 50% reduction in carbon footprint by 2030

JSW Energy has set an ambitious target for 50% reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050 by transitioning towards renewable energy, including wind, solar and hydro energy.

The Company's commitment towards its sustainability targets and progress on various initiatives are also being reflected in various external ratings. In the current year, MSCI has upgraded the Company's ESG rating to 'BB', amongst the highest rated power producers in India with an existing portfolio of thermal generation.

In addition, the Carbon Disclosure Project (CDP) also upgraded the Company's rating to 'B', which is the highest rating achieved by any power producer in India.

JSW Hydro Energy Limited (JSWHEL) is a 100% subsidiary of the Company and owns and operates the Karcham-Wangtoo (1000 MW) and Baspa II (300 MW) hydro-electric power plants in Himachal Pradesh, India. With state of the art infrastructure, Karcham-Wangtoo hydro-electric plant is the country's largest private sector hydro power plant.

Out of the total current capacity of 4.5 GW, about 30% of the total capacity is accounted for by renewables, including both these hydro projects.

The Company aims to become a leading renewable energy player in the country and has 1,500 MW of renewable projects under implementation - including the Kutehr 240 MW Hydro Electric project, SECI IX 810 MW Wind project and SECI X 450 MW Wind project.

On completion of these projects, the Company's total generation capacity will increase to 6.0 GW, with the proportion of renewable energy capacity increasing to just under 50% at 2.8 GW.

Shares of JSW Energy Ltd was last trading in BSE at Rs.87.35 as compared to the previous close of Rs. 83.55. The total number of shares traded during the day was 652740 in over 1326 trades.

The stock hit an intraday high of Rs. 88.05 and intraday low of 83.65. The net turnover during the day was Rs. 55918042.

Source : Equity Bulls

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