JSW Neo Energy Secures 192 MW Hybrid Power Project LoI

JSW Neo Energy has received a letter of intent (LoI) from Gujarat Urja Vikas Nigam (GUVNL) for a 192 MW grid-connected hybrid power project, with an additional 96 MW under the green shoe option. This capacity was awarded through a competitive bid for 500 MW hybrid power projects, boosting JSW Neo's total locked-in generation capacity to 16.2 GW, including 2.1 GW of hybrid power.

Currently, JSW Neo has a 7.5 GW operational capacity, which is set to increase to 10 GW by FY25. The company's energy portfolio includes wind, thermal, and hydro projects, with 2.3 GW under construction and a renewable energy pipeline of 6.3 GW. Additionally, they have 4.2 GWh of energy storage through battery and hydro pumped storage systems.

JSW Neo Energy is expanding its energy solutions, aiming to become a comprehensive energy products and services company. Their ambitious goal is to reach 20 GW of generation capacity and 40 GWh of energy storage by 2030.

Committed to sustainability, JSW Neo Energy targets achieving carbon neutrality by 2050, reinforcing its dedication to a greener future. This new project represents a significant step towards these long-term objectives, highlighting the company's growth and commitment to renewable energy.