JSW Neo Energy Ltd receives LoA for 300 MW Solar Project from KREDL

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") from Karnataka Renewable Energy Development Limited (or "KREDL") for setting up 300 MW Solar Power Project at Pavagada Solar Park, Karnataka.

Subsequent to this capacity award, the Company's total locked-in capacity increases to 15.5 GW. The Company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently.

JSW Energy has total locked-in generation capacity of 15.5 GW comprising of 7.5 GW operational, 2.3 GW under-construction across wind, thermal and hydro and RE pipeline of 5.7 GW (PPAs signed for 2.0 GW). The company also has 3.7 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. 704.20 as compared to the previous close of Rs. 712.70. The total number of shares traded during the day was 92936 in over 3873 trades.

The stock hit an intraday high of Rs. 717.75 and intraday low of 686.95. The net turnover during the day was Rs. 65462804.00.

Source : Equity Bulls

Keywords

JSWEnergy INE121E01018 JSWNeoEnergy LoA KREDL 300MW SolarPowerProject PavagadaSolarPark