New Delhi: JSW Energy announced on Monday that its branch JSW Neo Energy has obtained an agreement to construct a 500 MW inter-state transmission system (ISTS) linked solar project and 250 MW/500 MWh energy storage systems from Solar Energy Corporation of India (SECI).
JSW Neo has been granted Letter of Approval for establishing a 500 MW ISTS-connected Solar Power Project and 250 MW/500 MWh of Energy Storage Systems from SECI through a Competitive Bid process for 1,200 MW
ISTS-connected Solar Power Projects and 600 MW / 1,200 MWh of Energy Storage Systems (Tranche XV), according to a statement from the company. In a separate statement, JSW Neo has also been granted a Letter of Award (LoA) by Karnataka Renewable Energy Development Ltd (KREDL) to establish a 300 MW solar project at Pavagada Solar Park in Karnataka.
Following the capacity award, the company's total locked-in generation capacity grew to 16GW and the total locked-in energy storage capacity grew to 4.2 GWh. The company anticipates having a 10 GW installed generation capacity by FY25, an increase from the current 7.5 GW.
Before the year 2030, the company's goal is to achieve a generation capacity of 20 GW and energy storage capacity of 40 GWh. JSW Energy has a lofty goal of reaching Carbon Neutrality by the year 2050.
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