JSW Neo Energy receives Letter of Award from NTPC Limited for Wind-Solar Hybrid Power Project

by Psu Connect
Date: 23-08-24

Following this capacity award, the Company’s total locked-in generation capacity has risen to 16.7 GW, which includes a total locked-in Hybrid capacity of 2.6 GW (including FDRE).

JSW Neo Energy receives Letter of Award from NTPC Limited for Wind-Solar Hybrid Power Project

JSW Neo Energy Limited (or “JSW Neo”), a wholly-owned subsidiary of JSW Energy Limited has received a Letter of Award (or “LoA”) for setting up a 300 MW ISTS-connected Wind-Solar Hybrid Power Project from NTPC Limited against Tariff based Competitive Bid invited for setting 1,000 MW ISTS-connected Wind-Solar Hybrid Power Projects (NTPC-Tranche-VI).

Following this capacity award, the Company’s total locked-in generation capacity has risen to 16.7 GW, which includes a total locked-in Hybrid capacity of 2.6 GW (including FDRE).

The Company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently. This project enhances the company’s energy solution offerings and supports its transition towards becoming an energy products and services company.

Additionally, JSW Renew Energy Twenty Limited, a wholly-owned step-down subsidiary of JSW Energy Limited has signed a Power Purchase Agreement (or “PPA”) with Bangalore Electricity Supply Company Limited (or “BESCOM”) for a solar capacity of 300 MW awarded by Karnataka Renewable Energy Development Limited (or “KREDL”).

The PPA is signed for supply of power until FY 2044 with a tariff of Rs 2.89/KWh. The aforesaid project is located in Pavagada Solar Park, Karnataka, and is expected to be commissioned in the next 18 months. The current solar pipeline capacity stands at 3.2 GW with PPAs signed for 1.3 GW.