JSW Renew Energy Two Limited, a step-down subsidiary of JSW Energy Limited has initiated phase-wise commissioning of the 450 MW ISTS-connected Wind Power Project at Tuticorin in Tamil Nadu, awarded under SECI tranche X, with the commissioning of first phase of 27 MW.
This is the company's first greenfield wind power project, and it demonstrates the group's project execution capabilities. The project has a 25-year power purchase agreement with SECI.
In addition to this project, the company is building 1.8 GW of greenfield renewable energy capacity in order to reach 10 GW capacity by FY25 and 20 GW capacity by FY30.
JSW Energy has set an ambitious goal of reducing its carbon footprint by 50% by 2030 and reaching carbon neutrality by 2050 by transitioning to renewable energy. The company has set a target of 20 GW capacity by 2030, with renewable energy accounting for 81% of total capacity.
Around 2.63 GW of renewable energy projects are currently under construction or in the pipeline, with 1.26 GW of wind projects tied to SECI expected to be fully operational in the next 12-18 months.
Furthermore, SECI awarded the company a LoA for a 300 MW wind project as part of its tranche XII auction. The acquisition of Mytrah Energy's 1.75 GW RE assets and the 700 MW Ind-Barath Thermal Power Plant brings the total locked-in capacity to 9.9 GW.
At around 12.46 PM, JSW Energy was trading at Rs313.75 up by 1.1% from its previous closing of Rs310.35 on the BSE. The scrip touched intraday high and low of Rs319.15 and Rs311.15 respectively.
For feedback and suggestions, write to us at email@example.com