New Delhi: JSW Energy announced on Tuesday that its subsidiary JSW Neo Energy has secured a 600 MW wind-solar hybrid power project from Maharashtra State Electricity Distribution Company (MSEDCL). Following this, the company's overall locked-in generation capacity has grown to 18.2 GW, which comprises a total locked-in hybrid capacity of 3.8 GW (including FDRE), according to a statement from the company.
As per the announcement, JSW Neo Energy, a fully owned subsidiary of JSW Energy, has been granted the Letter of Award (LoA) for a 600 MW wind-solar hybrid power project, with 400 MW designated through the greenshoe option by MSEDCL for MSEDCL Phase IV.
On the other hand, the company chose not to reveal any financial information. By FY25, the company plans to increase its installed generation capacity to 10 GW from the current 7.5 GW. This project improves the company's energy solution options and aids in its shift to becoming a company that provides energy products and services.
JSW Energy currently has a total generation capacity of 18.2 GW, with 7.5 GW already operational, 2.3 GW being constructed, and a renewable energy pipeline of 8.3 GW (with signed PPAs for 2.3 GW). The company has 4.2 GWh of energy storage capacity secured by battery energy storage systems and hydro pumped storage projects. The goal of the Company is to achieve a generation capacity of 20 GW and an energy storage capacity of 40 GWh by 2030. JSW Energy aims to reach Carbon Neutrality by the year 2050 with an ambitious target.
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