JSW Neo Energy Wins 300MW Hybrid Project

23 Aug 2024 , 02:24 PM

JSW Energy announced on Friday that its branch, JSW Neo Energy, has obtained a Letter of Award (LoA) from NTPC to establish a 300 MW wind-solar hybrid power plant.

Following this capacity award, the company’s overall locked-in generation capacity increased to 16.7 GW, including 2.6 GW of hybrid capacity, according to a company statement.

This project expands the company’s energy solution capabilities and helps it move to an energy products and services company, it said.

JSW Energy has a total locked-in generation capacity of 16.7 GW, which includes 7.5 GW operational, 2.3 GW under construction in wind, thermal, and hydro, and a RE pipeline of 6.9 GW.

The company also possesses 4.2 GWh of locked-in energy storage capacity from a battery energy storage system and a hydro-pumped storage facility.

The company hopes to reach 20 GW of generation capacity and 40 GWh of energy storage capacity by 2030.

JSW Energy plans to become carbon neutral by 2050.

In a separate announcement, JSW Energy announced that its subsidiary JSW Renew Energy Twenty Ltd has signed a power purchase agreement (PPA) with Bangalore Electricity Supply Company for 300 MW of solar capacity awarded by Karnataka Renewable Energy Development.

The PPA is signed for the supply of power till FY 2044 at a tariff of Rs 2.89/kWh. The project is located in Pavagada Solar Park, Karnataka, and is projected to be operational over the next 18 months.

The current solar pipeline capacity is 3.2 GW, with PPAs signed for 1.3 GW.

For feedback and suggestions, write to us at [e-mail]