JSW Energy announced that its subsidiary, JSW Neo Energy, has received a Letter of Award (LoA) from NTPC to establish a 300 MW wind-solar hybrid power project. With this new award, JSW Energy's total locked-in generation capacity now stands at 16.7 GW, which includes 2.6 GW of hybrid capacity. The company views this project as a step towards enhancing its energy solution offerings and advancing its transition towards becoming an energy products and services company.
JSW Energy’s total generation capacity is spread across 7.5 GW of operational projects, 2.3 GW under construction across wind, thermal, and hydro sources, and an additional 6.9 GW in the renewable energy pipeline. The company also holds 4.2 GWh of energy storage capacity through battery storage systems and hydro-pumped storage projects. It is aiming to increase its generation capacity to 20 GW and energy storage capacity to 40 GWh by 2030, with a long-term goal of achieving carbon neutrality by 2050.
In another update, JSW Energy’s subsidiary, JSW Renew Energy Twenty Ltd, signed a power purchase agreement (PPA) with the Bangalore Electricity Supply Company for a 300 MW solar project awarded by Karnataka Renewable Energy Development. The PPA, which extends until FY 2044, sets the tariff at Rs 2.89/KWh. The project will be located in Pavagada Solar Park, Karnataka, and is expected to be completed within the next 18 months. JSW Energy’s current solar project pipeline totals 3.2 GW, with PPAs secured for 1.3 GW.
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