JSW Neo Energy Ltd receives Letter of Awards for 500 MW of Wind capacity from SECI - Tranche XVI

JSW Neo Energy Limited (or "JSW Neo"), a wholly owned subsidiary of JSW Energy Limited (or "The Company"), has received Letter of Awards (LoA) for a Wind capacity of 500 MW from Solar Energy Corporation of India Limited (SECI) against Tariff based Competitive Bid invited for setting up of 1,350 MW ISTS-connected Wind Power Projects (Tranche - XVI). As per the construct of the bid, 700 MW of greenshoe option is available over the awarded capacity. This could further enhance the company's total awarded capacity by 525 MW to a maximum of 1,025 MW.

The Company expects to have 9.8 GW of installed generation capacity by CY24, up from 7.2 GW currently. Following the capacity award under SECI Tranche XVI, the Company's total locked-in capacity increases to 10.3 GW.

The Company has set a target to reach 20 GW generation capacity and 40 GWh of energy storage capacity by 2030. The Company has currently locked in 10.3 GW of generation capacity and 3.4 GWh of energy storage capacity by means of battery energy storage system and hydro pumped storage project. JSW Energy has set an ambitious target for 50% reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050.

Shares of JSW Energy Limited was last trading in BSE at Rs. 497.10 as compared to the previous close of Rs. 499.40. The total number of shares traded during the day was 326642 in over 11414 trades.

The stock hit an intraday high of Rs. 521.40 and intraday low of 494.65. The net turnover during the day was Rs. 166260361.00.

Source : Equity Bulls

Keywords

JSWEnergy INE121E01018 JSWNeoEnergy LOA SECI 500MW