JSW Neo Energy Ltd receives LoI for 192 MW Grid Connected Hybrid Project from GUVNL

JSW Neo Energy Limited (or "JSW Neo"), a wholly owned subsidiary of JSW Energy Limited (or "The Company"), has received Letter of Intent (or "LoI") from Gujarat Urja Vikas Nigam Limited (or "GUVNL"), for setting up 192 MW Grid connected Hybrid Power Project, including an additional 96 MW under the green shoe option. The capacity is awarded against Tariff based Competitive Bid invited for setting up of 500 MW Grid connected Hybrid Power Projects (Phase II) along with a green shoe option for additional capacity upto 500 MW.

Subsequent to this capacity award, the Company's total locked-in generation capacity increases to 16.2 GW including total locked-in Hybrid capacity of 2.1 GW. The Company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently. With this 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 16.2 GW comprising of 7.5 GW operational, 2.3 GW under-construction across wind, thermal and hydro and RE pipeline of 6.3 GW (PPAs signed for 2.0 GW). The company also has 4.2 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. 691.95 as compared to the previous close of Rs. 693.40. The total number of shares traded during the day was 151899 in over 6602 trades.

The stock hit an intraday high of Rs. 702.90 and intraday low of 681.00. The net turnover during the day was Rs. 104713834.00.

Source : Equity Bulls

Keywords

JSWEnergy INE121E01018 JSWNeoEnergy LoI GUVNL