Shares of JSW Energy gained 2% and hit a 52-week high of Rs 745 on 24 June after the company secured a 300 megawatt (MW) wind-solar power project from Solar Energy Corporation of India Limited (SECI).

In its regulatory filing, the company said that its wholly-owned subsidiary JSW Neo Energy has received a Letter of Award (LoA) from Solar Energy Corporation of India Limited (SECI) for setting up a 300 MW ISTS-connected wind-solar hybrid power project against a tariff-based competitive bid invited for setting 1,200 MW ISTS-connected wind-solar hybrid power projects (Tranche VIII).

With this hybrid power project, the company has strengthened its energy solution offering while moving towards an energy products and services company. After the completion of this project, the company’s total locked-in capacity will increase to 13.6 gigawatts (GW). 

The company expects to have an installed capacity of 9.8 GW by the end of the current calendar year 2024 from its current capacity of 7.3 GW.  

Currently, the company has a total locked-in generation capacity of 13.6 GW, which comprises 7.3 GW of operational, 2.6 GW under construction across wind, thermal, and hydro, and a pipeline of 3.7 GW. The company also has a locked-in energy storage capacity of 3.4 gigawatt hours (GWh) through a battery energy storage system and hydro-pumped storage project. 

The company is planning to reach 20 GW generation capacity and 40 GWh energy storage capacity by 2030.

At 2:43 pm, the shares of JSW Energy were trading 2.91% higher at Rs 744.70 on NSE.