Shares of JSW Energy Ltd. rose by 2.5% to touch a day’s high of Rs 735.10 on 27th August, after the company said its subsidiary, JSW Neo Energy Ltd., has secured a fresh contract from the MSEDCL to implement a 200 MW wind-solar hybrid power project.

The letter of award is part of MSEDCL’s Phase III competitive bidding process, according to a regulatory filing by JSW Energy.

With this new project, JSW Energy’s total locked-in generation capacity has increased to 17.2 GW, including 2.9 GW of hybrid capacity. The company’s current operational capacity is 7.5 GW, with a goal to reach 10 GW by FY25.

JSW Energy’s portfolio now includes 7.5 GW of operational capacity, 2.3 GW under construction in wind, thermal, and hydro projects, and a renewable energy pipeline of 7.3 GW, with power purchase agreements (PPAs) for 2.3 GW.

The company has also secured 4.2 GWh of energy storage capacity, including battery storage systems and hydro-pumped storage projects.

They are aiming to expand their generation capacity to 20 GW and their energy storage capacity to 40 GWh by 2030. It also has a long-term goal of achieving carbon neutrality by 2050 as part of its strategy to become a comprehensive energy products and services provider.

On 23rd August, JSW Neo Energy Ltd. received a Letter of Award (LoA) from NTPC Ltd. for a 300 MW ISTS-connected wind-solar hybrid power project, part of NTPC’s Tranche-VI initiative to develop 1,000 MW of such projects. 

The company’s arm, JSW Renew Energy Twenty Ltd., inked a deal with Bangalore Electricity Supply Company Ltd. (BESCOM) on the same day. This agreement covers a 300 MW solar project that Karnataka Renewable Energy Development Ltd. (KREDL) granted to them.

At 1:04 PM, the shares of JSW Energy were trading 2.42% higher at Rs 732.90 on NSE.

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