JSW Neo Energy Ltd receives LoA for 700 MW ISTS-Connected Solar Capacity from SJVN Ltd

JSW Neo Energy Limited (or "JSW Neo"), a wholly owned subsidiary of JSW Energy Limited (or "The Company"), has received Letter of Award (LoA) for ISTS-connected solar capacity of 700 MW from SJVN Limited, against Tariff based Competitive Bid invited for setting up of 1,500 MW ISTS-connected Solar Power Projects.

Following the award of 700 MW capacity from SJVN Ltd, the Company's total locked-in capacity increases to 11.0 GW comprising of 1.4 GW of solar capacity. The project is required to supply power of full contracted capacity within 24 months from the effective date of PPA.

JSW Energy has total locked-in generation capacity of 11.0 GW comprising of 7.2 GW operational, 2.6 GW under-construction across wind, thermal and hydro and LoAs for 1.2 GW capacity from SECI (Tranche - XVI) and SJVN. In addition, the Company has 3.4 GWh of locked-in energy storage capacity by means of battery energy storage system and hydro pumped storage project. The Company expects to have 9.8 GW of operational generation capacity by CY2024, up from current operational capacity of 7.2 GW. The Company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity by 2030. 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. 524.00 as compared to the previous close of Rs. 505.90. The total number of shares traded during the day was 394584 in over 8661 trades.

The stock hit an intraday high of Rs. 537.90 and intraday low of 510.50. The net turnover during the day was Rs. 208043922.00.

Source : Equity Bulls

Keywords

JSWEnergy INE121E01018 JSWNeoEnergy LoA 700MW SJVN