Shares of JSW Energy Ltd hit a 52-week high of Rs 650 on 22 April after the company’s subsidiary secured an order from NTPC to set up a 700-megawatt ISTS-connected solar power project.

In its regulatory filing, the company said, “JSW Neo Energy Limited has received Letter of Award (LoA) for setting up 700 MW ISTS connected solar power project from NTPC Limited against tariff based competitive bid invited for setting 1,500 MW ISTS-connected solar power projects (NTPC-ISTS-II).”

The company has a total locked-in generation capacity of 13.3 gigawatts, which comprises 7.2 gigawatts of installed generation capacity, while 2.6 gigawatts are under construction across thermal, wind, and hydro. The company has received a Letter of Acceptance for 3.4 gigawatts from NTPC, SJVN, SECI ((Solar Tranche XIII and Wind Tranche XVI), and GUCNL.

Moreover, the company has 3.4 gigawatt hours of locked-in energy storage capacity through a hydro-pumped storage project and battery energy storage system.

The company plans to reach 20 gigawatt generation capacity and 40 gigawatt hour energy storage capacity before 2030, and have set a target to achieve Carbon Neutrality by 2050.

At 1:00 pm, the shares of JSW Energy shed all its early gains and were trading 1.38% lower at Rs 618 on NSE.