JSW Neo Energy bags 200 MW wind-solar hybrid project from from MSEDCL

JSW Energy on Tuesday said its arm JSW Neo Energy has received a letter of award (LoA) for setting up a wind-solar hybrid power project from Maharashtra State Electricity Distribution Company (MSEDCL).

The 200 MW wind-solar hybrid power project was awarded to JSW Neo Energy in a tariff-based competitive bid, a JSW Energy statement said.

As a result of this capacity award, the company's total locked-in generation capacity has increased to 17.2 GW, which includes a total locked-in hybrid capacity of 2.9 GW (including FDRE), the statement said.

JSW Energy has a total locked-in generation capacity of 17.2 GW comprising 7.5 GW operational, 2.3 GW under construction across wind, thermal and hydro and RE pipeline of 7.3 GW (PPAs signed for 2.3 GW).

The company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently.

The company also has 4.2 GWh of locked-in energy storage capacity through battery energy storage systems and hydro-pumped storage projects.

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 of achieving carbon neutrality by 2050.