JSW Energy's Stock Surges 2% as 810 MW Wind Power Project Begins Commissioning

26 Dec 2023 , 12:43 PM

JSW Energy’s shares rose by nearly 2 % after its subsidiary, JSW Renew Energy Limited, initiated the phase-wise commissioning of a 810 MW wind power project. The stock was trading at Rs 419.75 at the time of writing.

In a December 26 filing, JSW Energy announced commissioning the first phase (51 MW) of the 810 MW ISTS-connected wind power project in Tamil Nadu under SECI tranche IX.

The project has a 25-year power purchase agreement with SECI. Post-commissioning, the total installed capacity is now 6,822 MW. The under-construction capacity is 2,969 MW and is expected to be commissioned in phases over the next 12 months.

In Q2FY24, JSW Energy reported an 88 % YoY increase in consolidated net profit to Rs 856.79 crore. Revenue for the same period rose to Rs 3,387.36 crore, and EBITDA increased by 83 % to Rs 2,008.32 crore.

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