JSW Energy Wins 600 MW Hybrid Project from MSEDCL

11 Sep 2024 , 09:50 AM

On September 10, 2024, JSW Energy announced that its subsidiary, JSW Neo Energy, has received a Letter of Award (LoA) for a 600 MW wind-solar hybrid power project from Maharashtra State Electricity Distribution Company Ltd (MSEDCL) under Phase IV. This includes a 400 MW allocation under the green shoe option.

Following this announcement, JSW Energy’s stock rose by over 2.4%, reaching an intraday high of ₹749.25 on the BSE.

At the time of writing on September 11, 2024 at 9:50 am, shares of JSW Energy is trading at ₹754 which is a 1.32% gain than the previous close. JSW Energy has gained a total of 74% in the last one year, and almost 83% since the beginning of the year.

The new project increases JSW Energy’s total locked-in generation capacity to 18.2 GW and bolsters its renewable energy portfolio.

Currently, JSW Energy’s operational generation capacity stands at 7.5 GW, with an additional 2.3 GW under construction across wind, thermal, and hydropower projects. The company has a renewable energy pipeline of 8.3 GW and has signed Power Purchase Agreements (PPAs) for 2.3 GW. Its energy storage capacity is 4.2 GWh, including battery storage systems and hydro-pumped storage projects.

JSW Energy aims to achieve a total generation capacity of 20 GW and an energy storage capacity of 40 GWh by 2030.

Earlier in August, JSW Neo Energy secured a 200 MW wind-solar hybrid project from MSEDCL under its Phase III bidding process.

On August 23, JSW Neo Energy also received an LoA from NTPC Ltd for a 300 MW wind-solar hybrid project connected to the Inter-State Transmission System (ISTS) as part of NTPC’s Tranche-VI initiative.