JSW Neo Energy Secures 250 MW Wind Project from Adani

JSW Neo Energy secured a 250 MW wind power project from Adani Electricity Mumbai, boosting its total generation capacity to 17.0 GW. The company targets 20 GW by FY25.

August 27, 2024. By EI News Network

JSW Energy's subsidiary, JSW Neo Energy, has secured an order for building a 250 MW grid-connected wind power project from Adani Electricity Mumbai.

This marks a notable expansion in JSW Energy’s renewable energy portfolio, bolstering its wind power capacity to 4.7 GW. Currently, the company’s installed wind capacity stands at 2.0 GW.

As per the firm, with this new project, JSW Energy’s total locked-in generation capacity now reaches 17.0 GW. This includes 7.5 GW of operational capacity, 2.3 GW under construction, and a renewable energy (RE) pipeline of 7.1 GW, with power purchase agreements (PPAs) in place for 2.3 GW. Additionally, the company has committed 4.2 GWh to energy storage through battery systems and hydro pumped storage projects.

As per the firm's statement, the company aims to expand its generation capacity to 20 GW by FY25 and its energy storage capacity to 40 GWh before 2030. Moreover, JSW Energy is setting its sights on achieving carbon neutrality by 2050.

Financially, JSW Energy reported a substantial 79.99 percent increase in consolidated net profit, reaching INR 521.76 crore for Q1 FY25, up from INR 289.88 crore in the same quarter the previous year. However, revenue from operations saw a slight decline of 1.65 percent year-on-year, totaling INR 2,879.46 crore for the quarter ended June 30, 2024.

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Business

JSW Neo Energy

Adani Electricity Mumbai

Wind power project

Wind Power Projects in India

JSW Energy RE goals

Carbon neutrality by 2050

Wind Power Sector