JSW Energy Arm Secures Major Solar and Energy Storage Projects

JSW Energy on Monday, July 22, announced that its subsidiary JSW Neo Energy received two major orders for its renewable energy portfolio.

Key Takeaways from JSW Energy Arm’s Order Win

• JSW Energy subsidiary JSW Neo Energy received two major orders for its renewable energy portfolio.
• The corporation wants to go from 7.5 GW to 10 GW of installed generation capacity.
• The project will raise the company's total locked-in generation capacity to 16.0 GW and its energy storage capacity to 4.2 GWh.

JSW Neo Energy Limited has received a Letter of Award (LoA) from Karnataka Renewable Energy Development Limited (KREDL) for the development of a 300 MW solar power project at Pavagada Solar Park in Karnataka. The project will increase the company's total locked-in capacity to 15.5 GW, the company said in an exchange filing.

By FY25, JSW Energy aims to increase its installed generation capacity from 7.5 GW to 10 GW. 

The Solar Energy Corporation of India Limited (SECI) also granted JSW Neo another LoA to establish a 500 MW ISTS-connected Solar Power Project and 250 MW/500 MWh of energy storage systems. 

The development of solar power plants with 1,200 MW of ISTS connectivity and 600 MW / 1,200 MWh of energy storage systems is the focus of SECI's Tranche XV, which includes this grant.

JSW Energy will raise its total locked-in generation capacity to 16.0 GW and its energy storage capacity to 4.2 GWh with this project.

The vast portfolio of JSW Energy now includes 2.3 GW of wind, thermal, and hydro projects in construction, 7.5 GW of operating projects, and 6.2 GW of pipelined renewable energy, of which 2.0 GW have power purchase agreements (PPAs).

The company also has 4.2 GWh of energy storage capacity through battery energy storage systems and hydro pumped storage projects. 

JSW Energy has set lofty goals, intending to reach 20 GW of generation capacity and 40 GWh of energy storage by 2030. Furthermore, the corporation stated that it intends to achieve carbon neutrality by 2050, reinforcing its commitment to sustainable and innovative energy solutions.

About JSW Energy Limited

Originally known as Jindal Tractebel Power Company Limited, JSW Energy Limited was founded in 1994 as a joint venture between JSW Steel Limited and Tractebel S.A., Belgium. In order to better reflect the corporate identity, the company renamed itself as JSW Energy Ltd on December 7, 2005. Within the $12 billion JSW Group lies the broad energy vertical known as JSW Energy. With 3,158 MW of thermal power, 1,358 MW of wind power, 1,391 MW of hydropower, and 657 MW of solar power, the company now has 6,564 MW of installed producing capacity. In a joint venture with Maharashtra State Electricity Transmission Company Limited, a fully owned corporate body of the Maharashtra government, it runs two 400 KV transmission lines.

 JSW Energy also operates lignite mines in Rajasthan with a combined capacity of 9 MTPA through a joint venture with Rajasthan State Mines and Minerals Limited. It has a joint venture with Toshiba Corporation to produce supercritical steam engines. In addition to electricity generation, it has been involved in power trading since June 2006. The corporation also owns a share in a coal mining company in South Africa.

Read More About JSW Energy Share Price Here!