JSW Energy arm receives LoA from SECI

 JSW Neo Energy Limited (or “JSW Neo”), a wholly-owned subsidiary of JSW Energy Limited (or “The Company”), has received a Letter of Award (LoA) for an ISTS-connected solar capacity of 700 MW from Solar Energy Corporation of India Limited (SECI), against Tariff based Competitive Bid invited for setting up of 1,500 MW ISTS-connected Solar Power Projects.

The current installed generation capacity is 7.2 GW. The company expects to have 9.8 GW of installed capacity by CY24, with this awarded capacity of 700 MW under SECI Tranche XIII, the company's total locked-in generation capacity increases to 11.7 GW, of which 2.1 GW will be solar. JSW Energy has a total locked-in generation capacity of 11.7 GW comprising 7.2 GW operational, 2.6 GW under construction across the wind, thermal, and hydro, and LoAs for 1.9 GW capacity from SECI (Solar Tranche XIII and Wind Tranche XVI), and SJVN. In addition, the company has 3.4 GWh of locked-in energy storage capacity through a battery energy storage system and hydro-pumped storage project.

 

Read Also : IndusInd Bank Q1 FY25 results, net profit at 2% YoY

The Company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target for a 50% reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050. JSW Energy Ltd is one of the leading Private sector power producers in India and part of the USD 23 billion JSW Group which has a significant presence in sectors such as steel, energy, infrastructure, cement, and sports among others. JSW Energy Ltd has established its presence across the value chains of the power sector with diversified assets in power generation, and transmission.

Read Also : RBI issues guidelines on higher liquidity coverage ratio for retail deposits