JSW Energy’s wholly owned subsidiary, JSW Neo Energy, has received a Letter of Award (LoA) from NTPC Limited for the development of a 400 MW ISTS-connected solar power project. This award is part of NTPC’s initiative to set up 1,500 MW of ISTS-connected solar projects through tariff-based competitive bidding (NTPC-ISTS-III).
With this addition, JSW Energy’s total locked-in generation capacity now stands at 19.6 GW, including 4.4 GW dedicated to solar power. The company aims to achieve 10 GW operational capacity by FY 2025 and is currently operating 7.7 GW across thermal, hydro, and renewable energy projects.
It also has 16.2 GWh of locked-in energy storage capacity through battery energy storage systems and hydro-pumped storage projects. Looking ahead, JSW Energy plans to scale its generation capacity to 20 GW and energy storage capacity to 40 GWh by 2030, aligning with its goal of achieving carbon neutrality by 2050.
In financial performance, JSW Energy reported a 2.3% year-on-year increase in net profit to ₹876.8 crore for Q2 FY25, compared to ₹856.8 crore in the same quarter last year. Revenue dipped slightly by 0.7% to ₹3,237.7 crore, while EBITDA saw a 10.4% decline to ₹1,684.9 crore for the quarter.
JSW Neo Energy, a wholly owned subsidiary of JSW Energy, focuses on the development, operation, and expansion of renewable energy projects. As part of JSW Energy’s strategic commitment to clean and sustainable energy, JSW Neo Energy is leading the company’s efforts in the renewable energy sector, with a strong focus on solar power.
The subsidiary is dedicated to scaling up green energy solutions, having secured significant projects such as the 400 MW ISTS-connected solar power project awarded by NTPC. JSW Neo Energy is also key to the company’s broader goal of achieving a 20 GW generation capacity and 40 GWh of energy storage by 2030. Through innovative projects and investments in renewable energy, JSW Neo Energy aims to drive India’s transition to a low-carbon future, supporting JSW Energy’s ambition to achieve carbon neutrality by 2050.
