JSW Energy announced on Tuesday that its subsidiary, JSW Neo Energy, has been awarded a contract to develop a 200 MW wind-solar hybrid power project by the Maharashtra State Electricity Distribution Company (MSEDCL).
The project was secured through a tariff-based competitive bidding process, according to a statement from the company. With this new contract, it’s total committed generation capacity has now reached 17.2 GW.
This includes 2.9 GW of hybrid power capacity. The company’s overall portfolio comprises 7.5 GW of operational capacity, 2.3 GW under construction across wind, thermal, and hydro sectors, and a renewable energy pipeline of 7.3 GW with power purchase agreements (PPAs) in place for 2.3 GW.
The company aims to expand its installed generation capacity to 10 GW by FY25, up from the current 7.5 GW. Additionally, the company has locked in 4.2 GWh of energy storage capacity through battery energy storage systems and hydro-pumped storage projects, with a long-term goal to reach 20 GW of generation capacity and 40 GWh of energy storage capacity by 2030.
JSW Energy has also set a goal to achieve carbon neutrality by 2050. JSW Energy, a prominent player in India’s power sector, is renowned for its diverse portfolio of energy assets. Established in 1994, the company is part of the JSW Group and has evolved into a major integrated power producer, with operations spanning coal-based, hydro, and renewable energy sources.
JSW Energy’s commitment to sustainable growth is evident in its strategic focus on expanding its renewable energy capacity, including wind and solar projects. The company is also involved in power transmission and distribution, contributing to India’s energy infrastructure development. With a vision to become a leading global energy company, JSW Energy is dedicated to leveraging advanced technologies and innovations to drive efficiency and reduce environmental impact.
