JSW Neo Energy Secures 230 MW Renewable Energy

JSW Neo Energy Limited, a subsidiary of JSW Energy Limited, has clinched a significant 230 MW renewable energy contract from the Solar Energy Corporation of India Limited (SECI). Announced on August 8, 2024, this award is part of SECI’s latest competitive bid for 630 MW of ISTS-connected firm and dispatchable renewable power (SECI-FDRE-IV).

This new contract propels JSW Energy’s total locked-in generation capacity to 16.4 GW, including 2.3 GW of hybrid power. Currently, the company operates 7.5 GW and aims to reach 10 GW by FY25. The company’s energy mix includes thermal, wind, hydel, and solar power, with ambitious plans to expand its renewable energy assets.

On the stock market, JSW Energy Limited’s shares traded at ₹689.10 on the BSE and ₹687.95 on the NSE, reflecting a slight dip in value. Despite this, the company's strategic focus remains on increasing its renewable capacity and transitioning towards a diverse energy portfolio.

JSW Energy is targeting 20 GW of generation capacity and 40 GWh of energy storage by 2030, with a long-term goal of achieving carbon neutrality by 2050. This contract underscores the company’s commitment to expanding its renewable energy footprint and advancing its sustainability objectives.

News by Rahul Yelligetti