JSW Neo Energy Ltd receives LoI for 300 MW Solar Capacity from GUVNL at Khavda RE Park

JSW Neo Energy Limited (or "JSW Neo"), a wholly owned subsidiary of JSW Energy Limited (or "The Company"), has received Letter of Intent (LoI) for grid connected solar capacity of 300 MW from Gujarat Urja Vikas Nigam Limited (or "GUVNL"), against Tariff based Competitive Bid invited for setting up of 1,125 MW grid connected solar power project to be set-up in Gujarat State Electricity Corporation Limited's RE Park at Khavda (Or "GSECL Stage-3").

The current installed generation capacity is 7.2 GW, of which 675 MW is solar. The company expects to have 9.8 GW of installed capacity by CY24. With this awarded capacity of 300 MW under GSECL Stage-3, the company's total locked-in generation capacity increases to 12.0 GW, of which 2.4 GW will be solar.

JSW Energy has total locked-in generation capacity of 12.0 GW comprising of 7.2 GW operational, 2.6 GW under-construction across wind, thermal and hydro and LoAs for 2.2 GW capacity from SECI (Solar Tranche XIII and Wind Tranche XVI), SJVN and GUVNL. In addition, the company has 3.4 GWh of locked-in energy storage capacity through 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. 475.85 as compared to the previous close of Rs. 461.45. The total number of shares traded during the day was 174601 in over 6163 trades.

The stock hit an intraday high of Rs. 481.75 and intraday low of 452.05. The net turnover during the day was Rs. 81779287.00.

Source : Equity Bulls

Keywords

JSWEnergy INE121E01018 JSWNeoEnergy LoI GridConnected SolarPowerProject GUVNL