JSW Energy awarded 1 GW Capacity under PLI - Tranche II for Domestic Solar PV Module Manufacturing

JSW Renewable Technologies Limited (JSWRTL), a wholly owned step-down subsidiary of JSW Energy Limited ('The Company') has been allocated Performance Linked Incentive ('PLI') for the quoted manufacturing capacity of 1 GW (Wafer + Cell + Module) under 'National Programme on High Efficiency Solar PV Modules' to promote manufacturing of high efficiency solar PV modules in India.

JSWRTL is eligible for ~₹320 crores of PLI benefits on the 1 GW manufacturing capacity of Solar Wafer + Cell + Module allocated under the scheme. The awarded capacity has to be made operational by April, 2025.

Prashant Jain, Joint Managing Director and CEO of JSW Energy, said: "We are pleased to share that JSW Energy has been awarded capacity under Solar PV module manufacturing PLI Tranche-II. We will be undertaking solar wafer, cell and module (W-C-M) manufacturing which backward integrates and de-risks our supply chain to aid the Company's growth plans. The strategic intent is to use this capacity for captive consumption in building RE projects by JSW Neo Energy Limited."

The Company has set a target to reach 20 GW capacity by 2030 and near-term target of 10 GW by 2025, with a total locked-in capacity of 9.9 GW the company is well placed to achieve its targets well ahead of time. Currently operational capacity is 4.8 GW, underconstruction / in-pipeline is 3.3 GW and under-acquisition (Mytrah RE assets) is 1.75 GW.

JSW Energy has set an ambitious target for a 50% reduction in its carbon footprint by 2030 and achieving Carbon Neutrality by 2050 by transitioning towards renewable energy.

Shares of JSW Energy Limited was last trading in BSE at Rs. 222.20 as compared to the previous close of Rs. 226.55. The total number of shares traded during the day was 166446 in over 3280 trades.

The stock hit an intraday high of Rs. 230.00 and intraday low of 220.65. The net turnover during the day was Rs. 37618474.00.

Source : Equity Bulls

Keywords

JSWEnergy INE121E01018 JSWRenewableTechnologies PLI 1GW Wafer Cell Module SolarPVModules