JSW Neo Energy bags additional 400 MW wind-solar hybrid project from MSEDCL

JSW Energy on Thursday said its wholly-owned subsidiary JSW Neo Energy has secured an additional 400 MW wind-solar hybrid project from Maharashtra State Electricity Distribution Company (MSEDCL).

Subsequent to this, the cumulative capacity allotted to JSW Neo under Phase- III (of MSEDCL) stood at 600 MW, a company statement said.

According to the statement, JSW Neo Energy, a wholly-owned subsidiary of JSW Energy (company), has received Letter of Award (LoA) for an additional 400 MW of Wind-Solar Hybrid Power Project under greenshoe option from MSEDCL against MSEDCL Phase III.

The company, however, did not disclose any financial details.

Following this capacity award, the total locked-in generation capacity of JSW Energy has increased to 17.6 GW, which includes a total locked-in Hybrid capacity of 3.2 GW (including FDRE).

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

JSW Energy has total locked-in generation capacity of 17.6 GW comprising 7.5 GW operational, 2.3 GW under-construction across wind, thermal and hydro and RE pipeline of 7.7 GW (PPAs signed for 2.3 GW).

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

JSW Energy aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. It has set an ambitious target of achieving Carbon Neutrality by 2050.