New Delhi: JSW Energy announced on Friday that its subsidiary JSW Neo Energy has been granted a Letter of Award (LoA) from NTPC to establish a 300 MW wind-solar hybrid power project. After receiving this capacity award, the company's overall committed generation capacity has increased to 16.7 GW, with a total hybrid capacity of 2.6 GW, according to a statement from the company.
The project strengthens the company's energy solution options and aids in its shift towards becoming an energy products and services provider, according to the statement.
JSW Energy currently has a total locked-in generation capacity of 16.7 GW, with 7.5 GW already operational, 2.3 GW under construction in wind, thermal, and hydro power, and a renewable energy pipeline of 6.9 GW. The company also possesses 4.2 GWh of secured energy storage capability from a battery energy storage system and hydro-pumped storage initiative. Before 2030, the goal of the company is to achieve a generation capacity of 20 GW and an energy storage capacity of 40 GWh.
JSW Energy's goal is to reach carbon neutrality by 2050. JSW Energy announced that one of its subsidiaries, JSW Renew Energy Twenty Ltd, has entered into a power purchase agreement (PPA) with Bangalore Electricity Supply Company for a 300 MW solar project granted by Karnataka Renewable Energy Development.
The Power Purchase Agreement is inked for electricity supply until fiscal year 2044 at a rate of Rs 2.89/KWh. The construction site is situated in Pavagada Solar Park, Karnataka and is projected to be completed within the next 18 months. The existing solar pipeline has a capacity of 3.2 GW with power purchase agreements in place for 1.3 GW.
FIRST Business Portal addressing the potential of business capability of North East Region.
