JSW Energy arm gets LoA from NTPC for 400 MW solar power project

JSW Energy announced that its wholly owned subsidiary JSW Neo Energy, has received a letter of award (LoA) from NTPC for the development of a 400 MW ISTS-connected solar power project.

This award is part of NTPC's stariff-based competitive bid for 1,500 MW of ISTS-connected solar projects (NTPC-ISTS-III). With this new addition, JSW Energys total locked-in generation capacity has increased to 19.6 GW, of which 4.4 GW is dedicated to solar projects.

JSW Energy aims for a 10 GW operational capacity by FY 2025, currently operating 7.7 GW across thermal, hydro, and renewable energy. The company also has 16.2 GWh of energy storage capacity through battery storage and hydro-pumped storage projects.

The company aims to reach 20 GW of generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving carbon neutrality by 2050.

JSW Energy is primarily engaged in the business of generation of power, with principal places located at Vijayanagar (Karnataka), Ratnagiri (Maharashtra), Nandyal (Andhra Pradesh), and Salboni (West Bengal).

The companys consolidated net profit marginally increased to Rs 853.25 crore in Q2 FY25 as against Rs 850.16 crore posted in Q2 FY24. Net sales marginally declined to Rs 3,237.66 crore in Q2 FY25 from Rs 3,259.42 crore reported in Q2 FY24.

Shares of JSW Energy added 1.48% to close at Rs 674 on Friday, 6 December 2024.

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