Shares of JSW Energy Ltd. rose by nearly 4% to touch a day’s high of Rs 717.25 on 8th August after the company announced its subsidiary, JSW Neo Energy Ltd., received an LoA from SECI for supplying 230 MW of ISTS-connected FDRE.

It won 230 MW of capacity in the competitive bid for the ISTS-connected renewable energy projects, taking its total generation capacity to 16.4 GW. JSW Neo Energy aims to raise the installed capacity to 10 GW by FY25 from current levels of 7.5 GW.

This project will further strengthen the energy solutions at JSW Neo and support its acceleration of the transition toward an energy products and services company.

The firm’s total secured capacity includes 7.5 GW operational, 2.3 GW under construction, and a 6.6 GW renewable energy pipeline with 2.0 GW in signed PPAs.

JSW Energy holds 4.2 GWh of energy storage capacity that will remain for a long time through battery and pumped storage projects. The company hopes to have an installed capacity of 20 GW and a storage capacity of 40 GWh by 2030 while working towards carbon neutrality in 2050.

On 29th July, JSW Neo Energy received a letter of intent from Gujarat Urja Vikas Nigam Ltd. for a 192 MW grid-connected hybrid power project with an additional 96 MW under the green shoe option.

JSW Neo Energy secured an order to develop a 300 MW solar power project at Pavagada Solar Park in Karnataka. The company also received an order for a 500 MW ISTS-connected solar power project with 250 MW/500 MWh of energy storage.

At 12:20 PM, the shares of JSW Energy Ltd. were trading 3.02% higher at Rs 711.85 on BSE.

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