JSW Neo Energy wins LoA for 500 MW solar power project and 250 MW energy storage system

From Solar Energy Corporation of India

JSW Neo Energy, a wholly owned subsidiary of JSW Energy, has received Letter of Award for setting up 500 MW ISTS-connected Solar Power Project along with 250 MW / 500 MWh of Energy Storage Systems from Solar Energy Corporation of India, against Tariff based Competitive Bid invited for setting up of 1,200 MW ISTS-connected Solar Power Projects along with 600 MW / 1,200 MWh of Energy Storage Systems (Tranche XV).

Subsequent to this capacity award, the Company's total locked-in generation capacity increases to 16.0 GW and the total locked-in energy storage capacity increases to 4.2 GWh. 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 16.0 GW comprising of 7.5 GW operational, 2.3 GW under-construction across wind, thermal and hydro and RE pipeline of 6.2 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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