JSW Neo Energy secures LoA for 230 MW ISTS connected renewable energy project

JSW Neo Energy, a wholly owned subsidiary of JSW Energy, has received Letter of Award from Solar Energy Corporation of India, for supply of 230 MW ISTS connected firm and dispatchable renewable energy (FDRE). The capacity is awarded against the tariff based competitive bid invited for supply of 630 MW firm and dispatchable power from ISTS connected renewable energy projects (SECI-FDRE-IV).

Following this capacity award, the Company's total locked-in generation capacity has risen to 16.4 GW, which includes a total locked-in Hybrid capacity of 2.3 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.

JSW Energy has total locked-in generation capacity of 16.4 GW comprising of 7.5 GW operational, 2.3 GW under-construction across wind, thermal and hydro and RE pipeline of 6.6 GW (PPAs signed for 2.0 GW). The company also has 4.2 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project. 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.

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