JSW Neo Energy receives LoA for 700 MW ISTS- connected solar project from SJVN

JSW Neo Energy (or JSW Neo), a wholly owned subsidiary of JSW Energy, has received Letter of Award (LoA) for ISTS-connected solar capacity of 700 MW from SJVN, against Tariff based Competitive Bid invited for setting up of 1,500 MW ISTS-connected Solar Power Projects.

Following the award of 700 MW capacity from SJVN, the Company's total locked-in capacity increases to 11.0 GW comprising of 1.4 GW of solar capacity. The project is required to supply power of full contracted capacity within 24 months from the effective date of PPA.

JSW Energy has total locked-in generation capacity of 11.0 GW comprising of 7.2 GW operational, 2.6 GW under-construction across wind, thermal and hydro and LoAs for 1.2 GW capacity from SECI (Tranche - XVI) and SJVN. In addition, the Company has 3.4 GWh of locked-in energy storage capacity by means of battery energy storage system and hydro pumped storage project. The Company expects to have 9.8 GW of operational generation capacity by CY2024, up from current operational capacity of 7.2 GW. The Company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity by 2030. JSW Energy has set an ambitious target for 50% reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050.

 

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