JSW Acquires 45 MW Wind Project From Reliance In Maharashtra

JSW Acquires 45 MW Wind Project From Reliance In Maharasthra

JSW Renewable Energy (Coated) Limited, a wholly owned subsidiary of JSW Neo Energy Limited (or JSW Neo) and subsidiary of JSW Energy acquired 45 MW of Wind based Renewable Energy Project from Reliance Power Limited. This project is located at Jath, Sangli District, Maharashtra.

In accordance with our prior announcement on March 22, 2024, they signed a business transfer agreement. The said transaction was closed after obtaining the necessary customary approvals. JSW Energy has total locked-in generation capacity of 12.5 GW comprising of 7.2 GW operational, 2.6 GW under-construction across wind, thermal and hydro and LoA/LoIs for 2.7 GW capacity from SECI (Solar Tranche XIII and Wind Tranche XVI), SJVN and GUVNL.

In addition, the company has 3.4 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.

Furthermore, Reliance explained, “In furtherance to our letter dated March 22, 2024, we wish to inform you that in terms of the
Business Transfer Agreement, the Company has concluded the slump sale / transfer of its 45 MW Wind Power Project located at Vashpet, Maharashtra to JSW Renewable Energy (Coated) Limited and the consideration amounting to Rs. 132.39 crore (net of TDS) has been received.”

Recently, the energy arm of JSW Group, JSW Renewable Applied Sciences, and SANY Renewable Vitality signed an agreement to manufacture 3.X MW Wind Turbine Generators (WTGs) in India. The company noted in its statement that JSW Renewable Applied Sciences and SANY Renewable Vitality have launched into a pivotal journey, signing an expertise licensing settlement to fabricate 3.X MW Wind Turbines.