JSW Energy Shares Surge on 200 MW Wind-Solar Hybrid Contract Win

27 Aug 2024 , 12:11 PM

On Tuesday, August 27, JSW Energy shares increased by more than 2.5%. This rise came after the introduction of a new contract. A contract was obtained by JSW Neo Energy Ltd., a JSW Energy subsidiary, and Maharashtra State Electricity Distribution Company Limited (MSEDCL). Building a 200 MW wind-solar hybrid power project is the scope of the contract.

At the time of writing on August 27, 2024 at 12:07 pm, Shares of JSW Energy is currently trading at ₹734.40 which is a 2.63% gain than the previous close. JSW Energy stock has gained a total of 111% in the last one year, and 79% since the beginning of the year.

The company’s entire generating capacity, including 2.9 GW from hybrid sources, now stands at 17.2 GW thanks to this new project. By FY25, the company wants to have 10 GW operational, up from its present 7.5 GW.

2.3 GW of operational capacity, a 7.3 GW renewable energy pipeline, and 7.5 GW of under construction capacity are all part of JSW Energy’s portfolio. They have obtained 2.3 GW of power purchase agreements (PPAs). In addition, the business has 4.2 GWh of battery and hydro-pumped energy storage capacity.

By 2030, JSW Energy wants to increase both its generation and storage capacities to 20 GW and 40 GWh, respectively. Achieving carbon neutrality by 2050 is their ultimate goal. NTPC Ltd. also sent JSW Neo Energy Ltd. a Letter of Award on August 23 for a 300 MW wind-solar hybrid project.

In addition, Bangalore Electricity Supply Company Ltd (BESCOM) and JSW Renew Energy Twenty Ltd inked a Power Purchase Agreement for a 300 MW solar project that was awarded by Karnataka Renewable Energy Development Ltd (KREDL).