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JSW Neo Energy, a subsidiary of JSW Energy, secured a 250 MW wind power project from Adani Electricity, raising its total locked-in generation capacity to 17 GW. JSW Energy aims for 20 GW capacity and carbon neutrality by 2050.
JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Limited, has received a significant boost with the award of a 250 MW grid-connected wind power project from Adani Electricity Mumbai Limited (AEML).
This award came through a tariff-based competitive bidding process, further solidifying JSW Energy's position in the renewable energy sector. As a result, investors will keep an eye on the JSW Energy share price today.
With the addition of this 250 MW wind project, JSW Energy's total locked-in generation capacity has surged to 17.0 gigawatts (GW). This portfolio includes 4.7 GW of locked-in wind capacity, of which 2.0 GW is currently installed.
The company aims to increase its installed generation capacity to 10 GW by FY25, up from the current 7.5 GW, emphasising its commitment to scaling up its renewable energy offerings.
JSW Energy’s broader growth strategy involves reaching a total generation capacity of 20 GW and expanding its energy storage capacity to 40 gigawatt-hours (GWh) by 2030. This includes a pipeline of 7.1 GW in renewable energy, with PPAs signed for 2.3 GW, alongside 2.3 GW of projects under construction across wind, thermal, and hydroelectric power.
Additionally, the company has secured 4.2 GWh of energy storage capacity through battery energy storage systems and hydro-pumped storage projects.
Aligned with its vision for a sustainable future, JSW Energy has set an ambitious target of achieving carbon neutrality by 2050. The company’s strategic investments in renewable energy projects and energy storage solutions are key components in its transition towards becoming an integrated energy products and services provider.
Before the announcement of this new project, JSW Energy’s share price closed at ₹703.00 on Friday, reflecting a decline of 1.08%. Despite this slight dip, the stock has demonstrated strong performance over the past 12 months, delivering an impressive return of 102.45%, effectively doubling investors' money.
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This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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