JSW Neo Energy Receives 700 MW Solar Capacity LoA from SECI

This award comes as part of a Tariff-based Competitive Bid for the establishment of 1,500 MW ISTS-connected Solar Power Projects.

March 15, 2024. By Abha Rustagi

JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Limited, has been awarded a Letter of Award (LoA) for an Inter-State Transmission System (ISTS)-connected solar capacity of 700 MW from Solar Energy Corporation of India Limited (SECI).

This award comes as part of a Tariff-based Competitive Bid for the establishment of 1,500 MW ISTS-connected Solar Power Projects. With this recent development, JSW Neo Energy's total locked-in generation capacity increases to 11.7 GW, of which 2.1 GW will be solar.

The company currently boasts an installed generation capacity of 7.2 GW, and it anticipates reaching 9.8 GW of installed capacity by the end of CY24.

Prashant Jain, Joint Managing Director and CEO of JSW Energy Limited, commented on the significance of this achievement, stating, "The receipt of this LoA underscores our commitment to expanding our renewable energy portfolio and contributing to India's clean energy goals. This award reaffirms our position as a key player in the renewable energy sector."

JSW Energy's total locked-in generation capacity stands at 11.7 GW, consisting of 7.2 GW operational capacity, 2.6 GW under construction across wind, thermal, and hydro projects, and LoAs for 1.9 GW capacity from SECI and SJVN. Additionally, the company has secured 3.4 GWh of locked-in energy storage capacity through battery energy storage systems and hydro-pumped storage projects.

Looking ahead, JSW Energy has set targets, aiming to achieve a generation capacity of 20 GW and an energy storage capacity of 40 GWh by 2030. Furthermore, the company is committed to reducing its carbon footprint by 50 percent by 2030 and ultimately achieving Carbon Neutrality by 2050.

Tags:

Solar Energy Corporation of India