JSW Neo Energy Limited receives LOA for 300 MW hybrid power projects 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 (or "LoA") for setting up 300 MW ISTS-connected Wind-Solar Hybrid Power Project from SJVN Limited (or "SJVN") against Tariff based Competitive Bid invited for setting 1,500 MW ISTS-connected Wind-Solar Hybrid Power Projects (Hybrid-2).

Subsequent to this capacity award, the Company's total locked-in capacity increases to 13.9 GW. The Company expects to have an installed generation capacity of 9.8 GW by CY24, up from 7.3 GW currently.

With this hybrid project, the company further strengthens its energy solution offerings while moving towards an energy products and services company.

JSW Energy has total locked-in generation capacity of 13.9 GW comprising of 7.3 GW operational, 2.6 GW under-construction across wind, thermal and hydro and RE pipeline of 4.0 GW (PPAs signed for 1.3 GW). The company also has 3.4 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project. The Company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving Carbon Neutrality by 2050.

Shares of JSW Energy Limited was last trading in BSE at Rs. 734.60 as compared to the previous close of Rs. 734.80. The total number of shares traded during the day was 74961 in over 3765 trades.

The stock hit an intraday high of Rs. 743.60 and intraday low of 726.65. The net turnover during the day was Rs. 55104703.00.

Source : Equity Bulls

Keywords

JSWEnergy INE121E01018 JSWNeoEnergy LOA OrderWin 300MW HybridPowerProject SJVN