JSW Energy announced on Tuesday that its subsidiary, JSW Neo Energy Limited, has been granted a Letter of Award (LoA) for a 600 MW Wind-Solar Hybrid Power Project by Maharashtra State Electricity Distribution Company Limited (MSEDCL). This includes 400 MW allocated through a green shoe option under MSEDCL – Phase IV.
In a regulatory update, JSW Energy reported that this new capacity award raises its total locked-in generation capacity to 18.2 GW, with 3.8 GW allocated to hybrid projects. The company anticipates increasing its installed generation capacity to 10 GW by FY25, up from the current 7.5 GW.
JSW Energy’s total locked-in generation capacity now stands at 18.2 GW, which includes 7.5 GW operational, 2.3 GW under construction across wind, thermal, hydro, and renewable energy (RE) projects, and a RE pipeline of 8.3 GW (with power purchase agreements for 2.3 GW). Additionally, the company holds 4.2 GWh of locked-in energy storage capacity through battery energy storage systems and hydro pumped storage projects. JSW Energy is targeting a generation capacity of 20 GW and 40 GWh of energy storage capacity by 2030, with a long-term goal of achieving carbon neutrality by 2050.
In July, JSW Energy announced plans to increase its capital expenditure (capex) over the next six years to accelerate its capacity expansion. Chairman and Managing Director Sajjan Jindal stated at the FY24 annual general meeting that the company intends to raise its capex to Rs 1.15 trillion to achieve its 2030 targets. The current fiscal year’s capex is expected to be approximately Rs 15,000 crore. Previously, the company had increased its capex from Rs 85,000 crore to Rs 1.12 trillion.
