JSW Neo Energy Secures 300 MW Solar Capacity LoI from GUVNL

This LoI was awarded as part of a Tariff-based Competitive Bid for the establishment of a 1,125 MW grid-connected solar power project in Gujarat State Electricity Corporation Limited’s RE Park at Khavda.

March 16, 2024. By Abha Rustagi

JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Limited, has been granted a Letter of Intent (LoI) for a grid-connected solar capacity of 300 MW from Gujarat Urja Vikas Nigam Limited (GUVNL).

This LoI was awarded as part of a Tariff-based Competitive Bid for the establishment of a 1,125 MW grid-connected solar power project in Gujarat State Electricity Corporation Limited’s RE Park at Khavda, also known as GSECL Stage-3.

With the addition of this awarded capacity, JSW Neo's total locked-in generation capacity now rises to 12.0 GW, with 2.4 GW dedicated to solar energy. Currently, the company boasts an installed generation capacity of 7.2 GW, with 675 MW attributed to solar energy. It anticipates reaching 9.8 GW of installed capacity by the conclusion of CY24.

Prashant Jain, Joint Managing Director and CEO of JSW Energy Limited, expressed optimism about the company's future prospects, stating, "This Letter of Intent underscores our ongoing commitment to sustainable energy solutions and our dedication to meeting the growing demand for clean electricity in India. We are proud to contribute to the nation's renewable energy goals and support its transition to a greener future."

JSW Energy's total locked-in generation capacity currently stands at 12.0 GW, comprising 7.2 GW of operational capacity and 2.6 GW under construction across wind, thermal, and hydro projects. Additionally, the company holds LoAs for 2.2 GW capacity from SECI, SJVN, and GUVNL. Furthermore, it has secured 3.4 GWh of locked-in energy storage capacity through battery energy storage systems and hydro-pumped storage projects.

Tags:

Gujarat Urja Vikas Nigam Limited

Gujarat State Electricity Corporation

Khavda RE Park