JSW Neo Energy Ltd receives LoA for 700 MW ISTS-Connected Solar Capacity from SECI - Tranche XIII

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 Solar Energy Corporation of India Limited (SECI), against Tariff based Competitive Bid invited for setting up of 1,500 MW ISTS-connected Solar Power Projects.

The current installed generation capacity is 7.2 GW. The company expects to have 9.8 GW of installed capacity by CY24, with this awarded capacity of 700 MW under SECI Tranche XIII, the company's total locked-in generation capacity increases to 11.7 GW, of which 2.1 GW will be solar.

JSW Energy has total locked-in generation capacity of 11.7 GW comprising of 7.2 GW operational, 2.6 GW under-construction across wind, thermal and hydro and LoAs for 1.9 GW capacity from SECI (Solar Tranche XIII and Wind 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 aims to to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 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. 461.45 as compared to the previous close of Rs. 508.90. The total number of shares traded during the day was 174083 in over 5394 trades.

The stock hit an intraday high of Rs. 505.45 and intraday low of 460.00. The net turnover during the day was Rs. 83287168.00.

Source : Equity Bulls

Keywords

JSWEnergy INE121E01018 JSWNeoEnergy LoA SolarProject SECI