JSW Energy bags 700 MW solar project

27 Feb 2024 , 03:39 AM

On Tuesday, state-owned SJVN awarded JSW Energy a 700 megawatt solar project.

According to a JSW Energy exchange filing, the project was won by its subsidiary JSW Neo Energy Ltd. out of a tariff-based competitive offer that was requested for the establishment of 1,500 MW of solar power projects connected to the Interstate Transmission System.

The company stated that its overall locked-in capacity grew to 11.0 Gigawatt, comprising 1.4 GW of solar power, following the letter of award of 700 MW capacity from SJVN Ltd.

After the Power Purchase Agreement goes into force, the project has 24 months to supply power at its entire contracted capacity.

JSW Energy further stated that it has a total of 11.0 GW of locked-in generation capacity, of which 7.2 GW are now in operation, 2.6 GW are being built in the fields of wind, thermal, and hydropower, and LoAs for 1.2 GW of capacity from SECI (Tranche – XVI) and SJVN.

By using a battery energy storage system and a hydro-pumped storage project, the company also has 3.4 GWh of locked-in energy storage capacity.

By CY2024, the business intends to have increased its operational generation capacity from 7.2 GW to 9.8 GW.

JSW Energy has set a lofty goal to become carbon neutral by 2050 and reduce its carbon footprint by 50% by 2030.

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