JSW Energy on Tuesday announced that its wholly owned subsidiary, JSW Neo Energy Limited (JSW Neo) has received a Letter of Award (LoA) for 600 MW of Wind-Solar Hybrid Power Project including 400 MW allotted under green shoe option from Maharashtra State Electricity Distribution Company Limited (MSEDCL) against MSEDCL – Phase IV.
In a regulatory filing, the company said that as a result of this capacity award, its total locked-in generation capacity has increased to 18.2 GW, which includes a total locked-in Hybrid capacity of 3.8 GW (including FDRE). The Company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently.
JSW Energy has total locked-in generation capacity of 18.2 GW comprising 7.5 GW operational, 2.3 GW under-construction across wind, thermal and hydro and RE pipeline of 8.3 GW (PPAs signed for 2.3 GW). The company also has 4.2 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project. JSW Energy aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. It has set an ambitious target of achieving Carbon Neutrality by 2050.
Earlier in July, JSW Energy had said that it plans to increase its capex over the next six years as it fast-tracks capacity additions. At the company’s FY24 annual general meeting, chairman and managing director Sajjan Jindal had said that the company plans to bump its capex to Rs 1.15 trillion to reach its goal of 20 gigawatt (GW) by 2030 and 40 GWh (gigawatt hour) under Strategy 2.0.
“As we accelerate our ambition, this (capex) is likely to increase going forward. Our plan is to spend approximately Rs 15,000 crore in the current fiscal 2025,” Jindal had said. The company had increased its capex from Rs 85,000 crore to Rs 1.12 trillion previously.
From: financialexpress
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