JSW Receives LOA For 700 MW ISTS-Connected Project From SJVN

JSW Receives LoA For 500 MW Wind Project From SECI

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

Following the award of 700 MW capacity from SJVN Ltd, 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 Purchase Power Agreement (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 letter of award (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.

Earlier this year, JSW Neo Energy Limited or JSW Neo, received a Letter of Award (LoA) for 500 MW wind capacity from Solar Energy Corporation of India Limited (SECI). JSW received this award against tariff based competitive bid invited for setting up of 1,350 MW ISTS-connected Wind Power Projects (Tranche – XVI). As per the design of the bid, 700 MW of greenshoe option is available over the awarded capacity. This could further enhance the company’s total awarded capacity by 525 MW to a maximum of 1,025 MW. 

The Company expects to have 9.8 GW of installed generation capacity by CY24, up from 7.2 GW currently. Following the capacity award under SECI Tranche XVI, the Company’s total locked-in capacity increases to 10.3 GW. The Company has set a target to reach 20 GW generation capacity and 40 GWh of energy storage capacity by 2030. The Company has currently locked in 10.3 GW of generation capacity and 3.4 GWh of energy storage capacity by means of battery energy storage system and hydro pumped storage project. JSW Energy has set an ambitious target for 50% reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050.