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JSW Energy stated that its subsidiary, JSW Neo Energy, has received a Letter of Award (LoA) from SJVN Ltd for a 700 MW solar power project connected to the interstate transmission system. This LoA was received in response to a tariff-based competitive bid for the development of 1,500 MW ISTS-connected solar power plants, according to JSW in a stock exchange filing.
With this deal, the company's total locked-in capacity has increased to 11 GW, including 1.4 GW of solar capacity.
The project is mandated to deliver power at its full contracted capacity within 24 months of the Power Purchase Agreement (PPA) implementation date.
Currently, JSW Energy has a total locked-in generation capacity of 11 GW, with 7.2 GW already operational and 2.6 GW under construction across wind, thermal, and hydro projects. Additionally, it has secured contracts for an additional 1.2 GW capacity from SECI (Tranche–XVI) and SJVN. Moreover, the company has 3.4 GWh of locked-in energy storage capacity through battery energy storage systems and hydro-pumped storage projects.
JSW Energy aims to increase its operational generation capacity to 9.8 GW by the end of the calendar year 2024, up from the current 7.2 GW. Going forward, the company targets reaching a generation capacity of 20 GW and an energy storage capacity of 40 GWh by 2030. JSW Energy has set ambitious sustainability goals, including a 50% reduction in carbon footprint by 2030 and achieving carbon neutrality by 2050.
JSW Energy is a prominent player in India's private sector power generation industry. It operates as part of the JSW Group, a conglomerate with a substantial presence in various sectors, including steel, energy, infrastructure and cement.
At 2:03 AM, shares of JSW Energy were trading 0.94% lower at ₹519.45 apiece on the NSE.
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