The Government of Himachal Pradesh has given a Letter of Intent to JSW Neo Energy Limited, a wholly owned subsidiary of
JSW Energy Limited, for the allocation of the 126 MW Chhatru Hydro Electric Power Plant (HEP) on a BOOT basis, with a 40-year operational life.
JSW Energy’s platform capacity is now 9.2 GW (renewables account for 66% of total capacity). It includes 1.75 GW of renewable assets under acquisition from Mytrah and roughly 2.7 GW of wind and hydro projects that are currently under construction or in the pipeline and are expected to be put online gradually. The firm will reach its short-term capacity goal of 10 GW by FY25 far ahead of schedule.
By switching to renewable energy, JSW Energy aims to achieve Carbon Neutrality by 2050 and a 50% decrease in its carbon footprint by 2030.
By 2030, the Company wants to attain 20 GW of capacity, with 85% of that coming from renewable sources. A total of 2.7 GW of renewable energy projects are now being built or planned; wind projects totaling 1.26 GW, jointly owned by SECI, are anticipated to be completely operational in the next 12 to 18 months.
In addition, SECI awarded the business an LoA for a 300 MW project under its tranche XII auctions. The addition of Mytrah Energy’s 1.75 GW of renewable energy assets would bring the platform’s total capacity to 9.2 GW.
As part of the company reorganisation, JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Limited, was created as a vehicle to own all the renewable/green and new energy companies.
At around 2.16 PM, JSW Energy was trading at Rs335.30 down by 3.01% from its previous closing of Rs345.70 on the BSE. The scrip touched an intraday high and low of Rs351.75 and Rs334.45 respectively.
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